The Nigerian Department of Petroleum Resources (DPR) disclosed on Wednesday that at least 94 percent of retail fuel stations across the country were complying with the new PMS price of between N121.50 and N123.50 per litre.
After a monitoring exercise in the country’s Federal Capital Territory (FCT), The Abuja Zonal Operations Controller of the DPR, Mr Abubakar Buba, said that the agency made sure that there was compliance with the new prices, as directed by the Petroleum Products Pricing Regulatory Agency (PPPRA).
He had visited 36 petrol retail outlets and disclosed that two out of the visited outlets, Rahamaniyya Oil and Gas and Yinzag Petrolis, both in Mpape and Mabushi axis of Abuja respectively, had been sealed off and sanctioned due to non-compliance with the new price. The stations would be unsealed when they were ready to comply with the new price.
He said that the enforcement activities were to ensure that oil marketers did not sell above the new set price, under-dispense to buyers, or divert the petroleum product to neighbouring states.
Speaking on the sensitisation of Nigerians by the National Petroleum Corporation (NNPC) to the presence of fake diesel in the petroleum market, Mr Buba said that the DPR had looked into the complaints received on the issue of contaminated diesel sold in some parts of the country. He said that some officials of the Department had visited the reported locations and collected samples that were being analysed, and the Department awaited a report on the samples.
He was quoted saying, “We have received a lot of complaints; some of them we visited and took sample, and we are now waiting for the analysis. Although the laboratory scientists are not available now, but the few management staff that we have are trying to make sure that they do the analysis.”
Observation shows that although there is a high level of compliance with the new price regulations, all the filling stations are selling at the highest band of N123.50 per litre. The petrol stations supposedly do not have a problem with the price adjustment, as their profit is not totally dependent on the set price of the pump. However, there are concerns of losses incurred by some marketers due to them already having a large stock of fuel before the prices were adjusted.
/strong%20a%20href=ttps://www.dpr.gov.ng/over-94-marketers-compliant-with-new-fuel-price-regime/disclosed/a%20on%20Wednesday%20that%20at%20least%2094%20percent%20of%20retail%20fuel%20stations%20across%20the%20country%20were%20complying%20with%20the%20new%20PMS%20price%20of%20between%20N121.50%20and%20N123.50%20per%20litre.After%20a%20monitoring%20exercise%20in%20the%20country's%20strongFederal%20Capital%20Territory/strong%20(FCT),%20The%20Abuja%20Zonal%20Operations%20Controller%20of%20the%20strongDPR/strong,%20Mr%20Abubakar%20Buba,%20said%20that%20the%20agency%20made%20sure%20that%20there%20was%20compliance%20with%20the%20new%20prices,%20as%20directed%20by%20the%20strongPetroleum%20Products%20Pricing%20Regulatory%20Agency/strong%20(PPPRA).He%20had%20visited%2036%20petrol%20retail%20outlets%20and%20disclosed%20that%20two%20out%20of%20the%20visited%20outlets,%20Rahamaniyya%20Oil%20and%20Gas%20and%20Yinzag%20Petrolis,%20both%20in%20Mpape%20and%20Mabushi%20axis%20of%20Abuja%20respectively,%20had%20been%20sealed%20off%20and%20sanctioned%20due%20to%20non-compliance%20with%20the%20new%20price.%20The%20stations%20would%20be%20unsealed%20when%20they%20were%20ready%20to%20comply%20with%20the%20new%20price.He%20said%20that%20the%20enforcement%20activities%20were%20to%20ensure%20that%20oil%20marketers%20did%20not%20sell%20above%20the%20new%20set%20price,%20under-dispense%20to%20buyers,%20or%20divert%20the%20petroleum%20product%20to%20neighbouring%20states.Speaking%20on%20the%20sensitisation%20of%20Nigerians%20by%20the%20strongNational%20Petroleum%20Corporation%20(NNPC)/strong%20to%20the%20presence%20of%20fake%20diesel%20in%20the%20petroleum%20market,%20Mr%20Buba%20said%20that%20the%20strongDPR/strong%20had%20looked%20into%20the%20complaints%20received%20on%20the%20issue%20of%20contaminated%20diesel%20sold%20in%20some%20parts%20of%20the%20country.%20He%20said%20that%20some%20officials%20of%20the%20Department%20had%20visited%20the%20reported%20locations%20and%20collected%20samples%20that%20were%20being%20analysed,%20and%20the%20Department%20awaited%20a%20report%20on%20the%20samples.He%20was%20quoted%20saying,%20em“We%20have%20received%20a%20lot%20of%20complaints;%20some%20of%20them%20we%20visited%20and%20took%20sample,%20and%20we%20are%20now%20waiting%20for%20the%20analysis.%20Although%20the%20laboratory%20scientists%20are%20not%20available%20now,%20but%20the%20few%20management%20staff%20that%20we%20have%20are%20trying%20to%20make%20sure%20that%20they%20do%20the%20analysis.”/emObservation%20shows%20that%20although%20there%20is%20a%20high%20level%20of%20compliance%20with%20the%20new%20price%20regulations,%20all%20the%20filling%20stations%20are%20selling%20at%20the%20highest%20band%20of%20N123.50%20per%20litre.%20The%20petrol%20stations%20supposedly%20do%20not%20have%20a%20problem%20with%20the%20price%20adjustment,%20as%20their%20profit%20is%20not%20totally%20dependent%20on%20the%20set%20price%20of%20the%20pump.%20However,%20there%20are%20concerns%20of%20losses%20incurred%20by%20some%20marketers%20due%20to%20them%20already%20having%20a%20large%20stock%20of%20fuel%20before%20the%20prices%20were%20adjusted.){kind=link}