We’re monitoring petrol stations selling above N165 per litre: NMDPRA
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) on Monday said it had deployed its officials to petroleum depots and retail outlets in Lagos to monitor compliance with the regulated N165 pump price.
Ayorinde Cardoso, Zonal Operations Controller, NMDPRA, Lagos, confirmed the development in an interview in Lagos.
Mr Cardoso said that the federal government had directed that the players in the sector should comply with the N165 pump price for petrol as stipulated in the pricing template.
“Our officials are on surveillance to the depots and retail outlets to ensure that they comply with the directive.
“We want to make sure that the depots are selling at the approved ex-depot price to marketers and also ensure that marketers are not selling to motorists above N165 per litre.
“We are optimistic that normalcy will return to petrol distribution in Lagos very soon as we have made a lot of progress in terms of product availability.”
Petrol stations in Ikeja, Ejigbo, Iyana-Ipaja and Oshodi areas of Lagos, were observed on Monday to be selling petrol at between N170 to N180 per litre.
On his part, Chinedu Okoronkwo, President, Independent Petroleum Marketers Association of Nigeria (IPMAN), said “The queues are beginning to disappear as more of our members have products now and are selling.
“We have heard complaints that some of them are selling above N165 but you cannot blame them because they bought it at higher prices at the private depots.
“Once products are available everywhere they won’t have an option than to sell at N165,” Mr Okoronkwo said.
(NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
Heading 1
Reps begin review of state police bill
“The House and the Senate are working in tandem with each other to make sure that the significant amendments are achieved,” he said.
Economy
Nigeria’s $40 billion net foreign reserves validate Tinubu’s economic reforms: TSF
“The increase from about $3 billion to more than $40 billion within three years, therefore, represents a substantial strengthening of Nigeria’s financial buffers,” the group said.
Heading 4
Andy Burnham takes over as UK’s prime minister, vows to end homelessness
“On my first day as Prime Minister, I’m announcing this government’s commitment to finally end long-term rough sleeping across the UK at the earliest opportunity,” he said.
Hot news Home top
Who’s NBA president-elect Oyinkansola Badejo-Okusanya?
Ms Badejo-Okusanya emerged as the 33rd president-elect of the NBA after polling 12,317 votes in the election.
NationWide
FG, UNESCO partner on mobile learning for teachers
“The initiative leverages mobile technology to overcome barriers such as time constraints, geographical limitations and inadequate infrastructure,” the ministry said.
Economy
OPay leads Nigeria’s fight against digital fraud
Elizabeth Wang, chief commercial officer of OPay, noted that technology should not only make payments easier but also make financial services more trusted and more inclusive.
