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HomeNewsFuel scarcity: We’ll deal with depot owners selling beyond approved price –...

Fuel scarcity: We’ll deal with depot owners selling beyond approved price – FG

The federal government has said that it will respond severely and penalize any Depot Owner who is detected selling petroleum goods in excess of the country’s permitted Ex-Depot pricing.

Chief Timipre Sylva, Minister of State for Petroleum Resources, disclosed this on Thursday in Abuja while addressing reporters on the government’s efforts to address the country’s gasoline crisis.

Sylva advised the people to report anybody who attempted to take advantage of the situation so that they might be sanctioned as required by law.

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“We are aware, just like President Muhammadu Buhari said in a statement, that there are some Depot Owners who are taking advantage of the situation by increasing the Ex-depot price.

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“I can assure you that there will be sanctions for any of those depots that continue to increase the Ex-depot price as approved. We are going to deal decisively with anyone who tries to take advantage of this situation.

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“It been a difficult few weeks; a few weeks ago, we had the issue of petroleum product shortage. I have already addressed that matter which coincided with the geopolitical tension in Ukraine and Russia.

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“Prices of crude oil went up exponentially beyond levels expected. As you all know, when crude oil prices rise to that level, it can also affect the derivatives of crude oil.

“Nigerians are suffering because of the high diesel prices, including everywhere else globally.

“This is not peculiar to us at all. Diesel is a deregulated product and therefore, when the prices go up internationally, it affects the price also in Nigeria,” he said.



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