The Department of Petroleum Resources (DPR) has suspended direct sales of petroleum products to marketers selling above recommended ex-depot price of N77.66 and N34.51 for premium motor spirit (PMS) otherwise called petrol and houseHold kerosene respectively.
The suspension was contained in a statement made available to NewsDay on Thursday in Lagos State.
“Resulting from a meeting held on Wednesday, 29th July, 2015 in Lagos between the Department of Petroleum Resources and all stakeholders in the downstream sector of the petroleum industry including PPMC, PPPRA, MOMAN, DAPPMAN and IPMAN which was summoned to convey government’s displeasure at the sale of petrol above the stipulated pump price and the ever lengthening of vehicular queues at the filling stations, the DPR hereby issues the following statement and directives;
“Pursuant to the Petroleum Control Act CAP. 351 Laws of the Federation of Nigeria 1990 and the Petroleum Act 1969 (as amended), preliminary investigations revealed that the prevailing hike in retail prices of petrol and kerosene across the country is as a result of the unscrupulous activities of some depot owners and major marketers who are engaged in selling petrol and kerosene to various retailers at prices higher than the official ex-depot price of N77.66 and N34.51 respectively,” the statement read.
The regulatory agency said for it to check the activities of these depot owners and major marketers in this regard and to prevent the further imposition of hardship on the general public, “the DPR is resolved to take immediate steps to directly supervise the sale of petrol and kerosene from these affected depots in order to ensure that appropriate pricing is strictly adhered to.
“This process will involve immediate suspension of direct sales of petrol and kerosene from the affected depot owners and major marketers. Immediate setting up of a special DPR task force on supervision and monitoring of product sales from the affected depots with powers to undertake the sale of products from these depots and issue directives and guidelines to the general public on the procedure for the enforcement of the supervised sales throughout the period of this exercise until normalcy returns to the sector,” it said.
Efforts to get reactions from the Executive Secretaries of Depot and Petroleum Products Marketers Association (DAPPMA) Mr. Femi Adewole and Major Oil Marketers Association of Nigeria (MOMAN), Mr. Femi Olawore, proved abortive as calls to their lines were not answered.