The federal government, through the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), has issued a stern warning to filling stations exploiting Nigerians by selling Premium Motor Spirit (PMS), commonly known as petrol, at exorbitant prices of up to N1,000 per litre.
NMDPRA has accused several filling stations operated by independent marketers of significantly inflating their prices, with some reportedly selling petrol for between N900 and N1,000 per litre.
This comes amid growing public frustration over the stark difference in fuel prices between Nigerian National Petroleum Company Limited (NNPCL) outlets and those of independent marketers, which has resulted in persistent long queues at NNPCL stations.
While NNPCL stations sell petrol at prices ranging from N568 to N617 per litre, independent marketers claim they are forced to sell at higher prices due to purchasing fuel from private depot owners at rates as high as N850 per litre.
However, NMDPRA spokesperson, George Ene-Ita, disputed these claims, stating that the agency’s depot reports show significantly lower prices.
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“Our depot personnel report different figures because we require them to publish daily prices, and it’s certainly not N850 per litre,” Ene-Ita explained.
In response to reports of filling stations selling petrol at N900 to N1,000 per litre in Lagos and other states, Ene-Ita assured that such stations would be shut down if caught.
“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 asserted.
Ene-Ita expressed disbelief at the inflated prices being charged by independent marketers, emphasizing that NMDPRA’s records do not support such figures. He also confirmed that these stations display the inflated prices on their pumps, promising swift action against violators.
“Once we identify these outlets, we will shut them down. The prices set by NNPC should not lead to pump prices exceeding N650 per litre,” Ene-Ita reiterated.
The NMDPRA spokesperson concluded by issuing a strong warning to marketers, urging them to stop profiteering and assuring Nigerians that the agency will not tolerate operators cheating the public.
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