Marketers Ignore FG, Sell Petrol For N205 Per Litre

Afimag.com –

Oil marketers in the Nation have overlooked the Minister of States for Petroleum Resources, Timipre Sylva’s directive that petrol be sold at N184 per litre, selling the product above the authorized price.

Recall that the minister was in Lagos on Friday on the instructions of President Buhari to evaluate the situation of things in view to distribution and compliance to price regulation.

Timipre Sylva, however, told journalists after assessment of selected petroleum dispensing outlets that all retail outlets across the country were expected to sell petrol at the official price of N184 per litre.

During the week, it was learned that some fuel outlets including, Rainoil, NNPCL Retail and other Major Oil Marketers Association of Nigeria sold petrol at N185 as against the stipulated N184 per litre.

The NNPCL told newsmen that it would sell petrol to depots at N172 per litre to enable them to sell at the regulated price and make profits.

“All of my members are going to load at N172 per litre. But our worry is how can the government sustain supplies to the depots, and keep prices regulated as promised.

“But I want to believe that there is a commitment on the part of the government to keep supplies coming in,” he said, demanding that IPMAN members should be given 10 days to sell off old stocks in their respective stations.

During the FG task force visit to Lagos last week and other parts of the state, General Coordinator, South West, Nigerian Midstream and Downstream Petroleum Regulatory Authority, Ayo Kadoso, told the press that about 1.3 billion litres of petrol had been imported.

Though, the Regulatory Body seem to be less active in the Niger Delta region as over 95 per cent of fuel stations in the area stick to N280 and above per litre.