Oil Marketers Selling Fuel Above Pump Price Will Be Delisted From Subsidy Scheme - DPR Warns

Posted by Lolade on Thu 09th Jul, 2015 - tori.ng

The Department of Petroleum Resources is set to delist fraudulent petroleum marketers selling fuel above the approved pump price of N87 per litre from further participation in the Petroleum Support Fund (PSF).

The Department of Petroleum Resources, DPR, has threatened to delist fraudulent petroleum marketers selling fuel above the regulated and approved pump price of N87 per litre from further participation in the Petroleum Support Fund (PSF).

The Acting Director of DPR, Danteni Baba Ladan, handed down the warning in Lagos, on Wednesday, July 8, during a meeting with offiicials of Depot Products and Petroleum Marketers Association (DAPPMA), Major Oil Marketers Association of Nigeria (MOMAN) and the Independent Petroleum Marketers Association of Nigeria (IPMAN).

Ladan stated that in spite of several warnings issued to marketers to desist from selling above ex-depot price, which in turn translates to higher pump prices, some marketers have consistently flouted government’s directive.

‘‘This meeting is therefore convened to reiterate the resolve of DPR to ensure that henceforth, it would not allow a situation whereby supply of Premium Motor Spirit (PMS) is dictated by the private interests of marketers and dealers to the detriment of the Nigerian public, neither will the de¬partment condone any act of selling PMS above official pump price in government licenced facilities under any guise whatsoever," he said.

Ladan threatened to withdraw licence of any facility that flouts the latest directive from DPR, adding that further sanction could equally lead to the closure of depots and retail outlets for a period of up to 90 days.