…As NNPC rules out hike in Feb pump price
The Department of Petroleum Resources (DPR) has warned depot owners against hoarding petroleum products in their facilities.
It said the warning became imperative following reports on the unwholesome activities of some depot owners who have created artificial scarcity by hoarding products in some parts of the country.
A director of the DPR, Mr Sarki Auwalu, gave the warning on Wednesday in Lagos.
According to him, their nefarious activities are causing untold hardship to Nigerians.
He said records have shown that there was product sufficiency in the country and that there was no need for such practices.
Auwalu emphasised that the DPR as the licensed issuers to all oil and gas facilities in Nigeria including the depots, would not hesitate to apply appropriate sanctions on any depot found wanting in this regard.
He noted that the agency had set up a special task force to intensify surveillance and monitoring of all depots to check this anomaly.
The director noted that DPR would continue to provide its regulatory focus of quality, quantity, integrity, and safety (QQIS) for the effective operations of the downstream sector.
Meanwhile, the Nigerian National Petroleum Corporation (NNPC) has said there is no increment in the ex-depot price of Premium Motor Spirit (petrol) this month despite the rise in the price of crude oil in the international market.
The ex-depot price is the price at which the product is sold by the NNPC to marketers at the depots.
The NNPC ruled out any increment in the ex-depot price through a statement by the Group General Manager, Group Public Affairs Division, Dr Kennie Obateru.
It said the decision is to allow ongoing engagements with organised labour and other stakeholders on an acceptable framework that would not expose the ordinary Nigerian to any hardship, to be concluded.
The corporation urged petroleum products marketers not to hoard petrol, to avoid creating artificial scarcity and unnecessary hardship for the citizens.
The Corporation gave assurance that it has enough stock of petrol to keep the nation well supplied for about 40 days. It further called on relevant regulatory authorities to step up monitoring of the activities of marketers with a view to sanctioning those involved in products hoarding or arbitrary increase in pump price.