Fuel scarcity: NUPENG would penalize marketers who sell above N165 pricing limit

Marketers who have taken advantage of the current fuel scarcity and long lines caused by an influx of contaminated fuel have been told to return to the official depot price within the next 24 hours, according to the petroleum union.

Unscrupulous marketers were selling PMS from depots at prices well above the official rate, according to NUPENG, in order to force illegal rises in the pump price, worsening the woes of the populace in the midst of fuel scarcity.

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The union’s President and General Secretary, Prince William Akporeha, and Afolabi Olawale, released a statement threatening to name and disgrace the impacted marketers if they continued to engage in illegal behavior.

“Our attention and empathy have been drawn to the harrowing experiences and pains of the general public as a result of the exploitative and unscrupulous activities and tendencies of Petroleum Products Marketers who are profiting from the apparent gaps and teething challenges in the implementation of the Petroleum Industry Act at the expense of the country and its people.”

“It’s evident that Premium Motor Spirit, or PMS, is still subsidized, and we find it upsetting and concerning that unscrupulous Marketers are selling PMS at prices well over the official rate from depots.”

“With effect from midnight on Sunday, February 27, 2022, we are giving these Marketers twenty-four (24) hours to return to the official rate, or we will name and disgrace them as public enemies, in addition to additional consequences.”

“We have it on good information that one Marketer sets and fixes the prices of these products for other Marketers to follow, leaving all consumers (domestic and industrial) at their mercy.”

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“The complaints of airline operators, road transport operators, factory owners, and individual houses and offices clearly demonstrate this uncomfortable condition.” The Union cannot stand by and watch as some cabals continue to exploit the people and the country.

“We encourage the general people to bear with us as we take whatever steps are necessary to combat these exploiters.”

“Unfortunately, we recognized the NNPC’s ineptitude in this in light of the Act’s implementation, and we also noted that these Marketers are taking advantage of the Nigerian Midstream and Downstream Regulatory Authority’s newness to rip off Nigerians.”

“The nation and the people are suffering, and in the absence of any meaningful institutional intervention, NUPENG has resolved to defend the people, the nation, and the industry once more.”

“Through this press release, we are also asking all of our authorities in all of our zones to begin gathering lists of gas stations that are known for stockpiling products during the day and selling them at high prices at night in order to face possible sanctions.”

“This includes Petroleum Supplies depots that may seek to stockpile products as a result of our decision.”

The Nigerian National Petroleum Company (NNPC) Limited announced on Wednesday that it has supplied 387.59 million litres of petrol in the last week to fill the void left by the removal of methanol-blended products from the market.

Although the lines have thinned marginally in the Federal Capital Territory, conditions in portions of Lagos have remained mostly unchanged. Things have gotten worse in other sections of the South West.

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Nigeria continues to subsidize gasoline and plans to spend N2.6 trillion on it in 2022.

The NNPC and its partners recently imported filthy fuel into the country, exacerbating the country’s present petrol shortage.