A stern warning has been issued by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to filling stations exploiting Nigerians by selling Premium Motor Spirit (PMS) at exorbitant prices of up to ₦1,000 per litre.
This development occurred after people reacted due to the significant price disparity between filling stations operated by the Nigerian National Petroleum Company Limited (NNPCL) and those run by independent marketers.
With a close look at the price gap and difference, NNPC outlets maintain prices between ₦568 and ₦617 per litre while others sell petrol as high as ₦1,000 per litre.
In response to the situation and the new directive issued by NMDPRA, the Independent marketers have justified the price hike, claiming they purchase petrol from private depots at prices as high as ₦850 per litre.
Refuting the claims, NMDPRA spokesperson, George Ene-Ita revealed that the agency’s depot personnel reported much lower figures.
Ene-Ita said, “Our depot personnel report different figures because we require them to publish daily prices, and it’s certainly not ₦850 per litre.”
Ene-Ita also warned that any filling station caught selling petrol at such inflated prices would be shut down immediately.
“If we find these outlets, our course of action is to shut them down. NNPC sets the ex-depot prices, and we work together to determine the margins. There’s no justification for such a high pump price,” he emphasised.
The NMDPRA has also vowed to protect Nigerians from being overcharged for fuel.
