DPR rolls out sanctions for erring fuel marketers

The Department of Petroleum Resources (DPR) yesterday rolled out sanctions for erring fuel operators who are engaged in hoarding and selling above pump price.

In a statement signed by the Zonal Operations Controller, Lagos Wole Akinyosoye, the department reiterated that depots selling Premium Motor Spirit (PMS) to bulk buyers without verifiable retail outlets would be fined N10 million and closure of the erring depot for at least six months, after the products have been sold off.

According to him, the department has been sanctioning erring operators and would not hesitate to penalise operators who sell above approved ex-depot price and closure if caught in the act.

Akinyosoye noted that a fine of N200.00 per litre would be imposed on the hoarded product and the erring station would be closed for at least six months and recovered product would be auctioned to the public.

In a related development, the Nigerian National Petroleum Corporation (NNPC) says it has 750million litres of PMS that can last 21 days.

The corporation in a statement signed by Group General Manager, Group Public Affairs Division, Ndu Ughamadu, also said it has increased supplies to cities across the country with Lagos receiving 300 trucks daily, Abuja receiving additional 100, to the normal 70 trucks.

It also reassured motorists of restoring normalcy and urged them to desist from panic buying.