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Govt Set To Sanction Those Selling Petroleum Product Above Approved Price

Govt Set To Sanction Those Selling Petroleum Product Above Approved Price

The minister of state, petroleum resources, Timipre Sylva, has said that the Federal Government will place sanctions on depot owners selling above the approved ex-depot price.Information Guide Nigeria

According to OSG, Timipre Sylva said this on Thursday in Abuja while briefing journalists on efforts to resolve the issue of fuel scarcity in Nigeria.

OSG reports that the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) had said it would not lift products for depot owners selling petrol above the official depot price.

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Timipre Sylva said, “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.

“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.

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

“Prices of crude oil went up exponentially beyond levels expected. As you all know, when crude oil prices rise to that level, they 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.”

According to OSG, Timipre Sylva further stated, “If any deport owner increases price or any fuel station tries to take advantage of the situation, the public should report immediately.

“If we do not get the report, we cannot know what is going on or sanction them.”

Timipre Sylva added, “We are not resting; we share the pains of Nigerians.Jamb Result

“We will continue to ensure that the situation is controlled. Queues are coming down in Lagos and other parts of the country. Very soon, this will be a thing of the past.”

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Idongesit Akpa-Ayang

Idongesit is a graduate of Communication Arts, University of Uyo. Currently working as a news reporter at InfoGuide Nigeria.

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