03 November 2015, Abuja – The Department of Petroleum Resources, DPR, yesterday, stated that any petroleum products depots and filling stations owners engaged in sharp practices would be fined and prosecuted for economic sabotage.
Director of DPR, Mordecai Ladan, in a statement in Abuja, against the backdrop of the purported resurgence of fuel scarcity in some parts of the country, warned oil marketers against products diversion, hoarding, pump manipulation and selling products above government approved prices.
According to Ladan, any petroleum products marketer found to be under-dispensing or selling products above government regulated prices shall be suspended for a minimum of two months.
He said: “Marketers caught diverting or hoarding the products for profiteering shall be sanctioned with a fine of two million naira and have their operating license revoked and prosecuted for national economic sabotage.”
Ladan also stated that DPR was collaborating with the Petroleum Equilization Fund, PEF, and Petroleum Products Pricing Regulatory Agency, PPPRA, to ensure that defaulters were sanctioned accordingly.
To this end, he stated that all DPR offices nationwide have been directed to step up their monitoring activities and ensure full compliance by marketers.
The Nigerian National Petroleum Corporation, NNPC, had, last week, following rumours of an impending fuel scarcity, stated that it had deployed 306 truckloads of Premium Motor Spirit, also known as fuel, which is about 10 million litres, to some northern states.
According to NNPC, the deployment was to halt queues noticeable in some petrol stations.