DPR Warns Petroleum Products Marketers Against Profiteering
Olaoluwa Folalu
Department of Petroleum Resources (DPR) in Nigeria on Monday warned petroleum products depots and filling stations owners against products diversion, hoarding, pump manipulation and selling products above government approved prices.
The agency Director, Mr Mordecai Ladan, who gave this warning in Abuja while addressing reporters over the purported resurgence of fuel scarcity in some parts of Nigeria, said, “any petroleum products marketer found to be under-dispensing or selling products above government regulated prices shall be suspended for a minimum of two months.
“Marketers caught diverting or hoarding the products for profiteering shall be sanctioned with a fine of two million Naira and have their operating license revoked and prosecuted for national economic sabotage”.
He revealed that DPR was collaborating with Petroleum Equalisation Fund and Petroleum Products Pricing Regulatory Agency to ensure that defaulters would be sanctioned accordingly.
Based on the present situation, all DPR Offices nationwide have been directed to step up their monitoring activity and ensure full compliance by marketers.