The Head Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority -NMDPRA, Farouk Ahmed, has warned that it would be closing down filling stations trading fuel above the government recommended pump price of 165 naira per liter. Ahmed had reported has warned the Depots and Petroleum Marketers Association of Nigeria -DAPMAN and Major Oil Marketers of Nigeria -MOMAN that retailers who traded above the price recommended will have their license revoked.
NMDPRA and the Petroleum Pipeline and Marketing Company -PPMC, together have commenced overseeing the dispensing of petrol at several retail stations to ensure obedience to the 165 Naira per liter price.
Ahmed in a statement yesterday, said the Federal Government had skyrocketed the transportation cost to circulate fuel across the nation, from 10.46 Naira to 20.46 Naira to motivate motorists driving the truck to fuel depots. Fuel dispersion had begun in Lagos, and will reach into Abuja to stop the scarcity that has prompted retail stations to contemplate skyrocketing the fuel pump cost.
Commenting on the monitoring exercise, Ahmed confessed that he and his team were trying to oversee the fuel distribution to make sure that the filling stations with petrol were sending their trucks off to go get fuels to shorten the huge queues in filling stations.
