New fuel price: PPPRA expresses satisfaction with compliance

04 January 2015, Abuja – The Petroleum Products Pricing Regulatory Agency, PPPRA, weekend, stated that from its monitoring activities in Abuja and across the country, the level of compliance by petrol stations to the new fuel price was satisfactory.

Fuel pumpAssistant General Manager and Head of Operations, PPPRA, Mr. Victor Shidok, who led a monitoring team in Abuja  to enforce the N86.50 and N86 per litre fuel price in petrol stations across the country, said:  “There is 100 per cent compliance so far, though we are yet to reach the outskirts where there may be challenges with regard to total compliance.”

According to him, the  monitoring exercise is to ensure that the marketers comply with the new pump price, adding: “You know usually when we have a change in pump price we go round to monitor compliance. We have been to 10 filling stations and we are still going round to make sure that we cover as much as possible. And good enough, all the stations we have visited, there has been 100 per cent compliance.

“But we shall go up to the outskirts because that is where our concern is, the challenge may likely be in the outskirts. All those we have visited say they have received directive from their head offices. We are in touch with the leaderships of oil marketers in the country.”

He further stated that the exercise would be conducted nationwide, as all its staff are in the field across the country and are also at the depot level working in conjunction with the Department of Petroleum Resources (DPR).

He warned marketers against sharp practices, declaring that any fuel station found to be selling above the new regulated pump price would be faced with stiff sanctions including withdrawal of their licences and denying them the benefits of the Petroleum Support Fund Scheme.

He said: “The law spelt out penalty, where you have deviant to whatever directive you issued. Any deviant may loose the benefits of participating in Petroleum Support Fund Scheme, because we may withdraw such people from participating. And since we are working in conjunction with DPR, your licence may likely be withdrawn apart from other measures that we are likely going to take to ensure that Nigerians are not shortchanged.”

 

 

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