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NNPC Threatens to Sanction Petrol Hoarders

Hoarders of petrol in filling stations and those who sell above the pump price will face serious sanctions, the Nigerian National Petroleum Company Ltd warned yesterday, The Nation reports.

Speaking at a joint press briefing with Major Oil Marketers Association of Nigeria (MOMAN), Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) and Nigeria Union of Petroleum and Natural Gas Workers (NUPENG), the Group Managing Director of the NNPC, Mele Kyari, said there was no plan to adjust the pump price of petrol.

Kyari warned filling stations selling above the approved regulated price of between N162 and N165 per litre to desist from such practice, warning that the NNPC will sanction any marketer inflating the price of PMS.

He said: “NNPC has no plan to adjust the ex-depot price. We do not have any plan to adjust the price of Premium Motor Spirit.

“Therefore, I call on all oil marketers to ensure that they sell petrol product at the price approved by government.

“The NUPENG has issued a warning to alert Nigerians of some of the practices in some depot selling prices above their ex-depot prices. We have engaged NUPENG, PTD, DAPPMAN and MOMAN and we have all agreed that NNPC will carry out sanctions on any one found doing this including refusal to sell PMS.”

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