• Contact Us
  • About Us
Sunday, June 22, 2025
  • Login
MetroBusinessNews
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate
No Result
View All Result
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate
No Result
View All Result
MetroBusinessNews
No Result
View All Result
ADVERTISEMENT
Home Oil & Gas

Fuel Scarcity: FG Threatens to Withdraw Marketers’ Licences Over Hoarding

metro by metro
August 17, 2024
in Oil & Gas
0
Oil marketers Blame Logistics As Long Queues Persists In Abuja, Lagos, Others
0
SHARES
0
VIEWS

 

 

Read Also

Nigerian Navy Cracks Down On Oil Theft, Arrests 76 Vessels In Two Years

Oil Set To Rise For Third Week On Escalating Israel-Iran Conflict

Oil Prices Extend Rise As Iran-Israel Conflict Enters Sixth Day

The Federal Government has threatened to withdraw licences of oil marketers found guilty of hoarding Premium Motor Spirit otherwise known as petrol, following the unabated scarcity in Abuja, Lagos, Niger, Nasarawa, Kaduna, and many other states.

In Lagos, for instances, most of the stations have been shut including the NNPCL mega stations.

Arepo and it’s environs, in Ogun state, its been only NIPCO filling station selling at N680/litre, with long queue and where black marketers are having the field days selling between N1000 to N800 per litre.

However, some states, especially those in the North have witnessed continuous petrol scarcity for a while now, a situation that has since degenerated into many stations closing up shop due to a lack of supply.

However, the Federal Government through its Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has issued a warning to oil marketers that filling stations that hoard petrol and sell to black marketers in jerrycans would have their licences withdrawn.

The warning was handed down by the Executive Director of Distribution Systems, Storage and Retailing Infrastructure, NMDPRA, Ogbugo Ukoha, in a video clip shared by the regulator during an inspection tour in Abuja.

Ukoha was heard telling one of the managers of the inspected stations that “You need to take this (warning) very seriously. If you need security reinforcements, speak to your management.”

He said retail petrol stations should stop encouraging the sale of products to black marketers who dispense the products in jerrycans.

Ukoha said such actions posed serious safety concerns and should be discontinued.

Also on its X handle, the downstream regulator said it had declared war against the illegal sale of petroleum products.

“NMDPRA embarks on a war against the illegal sale of petroleum products, especially PMS in jerrycans. Filling stations are advised to desist from servicing illegal peddlers; failure to do so would result in the suspension of retail licences,” the agency stated.

On July 27, NNPCL spokesperson, Olufemi Soneye, said the fuel scarcity witnessed in Abuja and Lagos was due to a hitch in the discharge operations of a couple of vessels.

“The NNPC Ltd wishes to state that the tightness in fuel supply and distribution witnessed in some parts of Lagos and the FCT is a result of a hitch in the discharge operations of a couple of vessels,” Soneye had explained

ALSO READ

Matrix Energy Denies Importing Substandard Petrol And Diesel

According to him, the company was working around the clock with all stakeholders to resolve the situation and restore normalcy in operations.

At some point, the NNPCL also said the fuel crisis was caused by bad weather.

“Adherence to these regulations is mandatory as any deviation could pose a severe danger to the trucks, filling stations, and human lives. Similarly, the development was compounded by consequential flooding of truck routes, which has constrained the movement of PMS from the coastal corridors to the Federal Capital, Abuja,” he added, saying loading had commenced at the time.

Despite the promises, petrol scarcity has persisted in many northern states.

Previous Post

Matrix Energy Denies Importing Substandard Petrol And Diesel

Next Post

Payments Giant Mastercard Cutting Global Headcount By 3%

Related Posts

Nigerian Navy Cracks Down On Oil Theft, Arrests 76 Vessels In Two Years
Oil & Gas

Nigerian Navy Cracks Down On Oil Theft, Arrests 76 Vessels In Two Years

June 20, 2025
Ogoniland oil spill
Oil & Gas

Oil Set To Rise For Third Week On Escalating Israel-Iran Conflict

June 20, 2025
Oil Prices Down 1% On Strong Dollar, China Economy Worries
Oil & Gas

Oil Prices Extend Rise As Iran-Israel Conflict Enters Sixth Day

June 18, 2025
Nigeria Signs South Korea’s Daewoo To Fix Kaduna Refinery
Oil & Gas

Nigeria Misses OPEC Quota, Records Third Decline In 2025 Despite FG’s Pledge To Tackle Challenges

June 16, 2025
Next Post
Payments Giant Mastercard Cutting Global Headcount By 3%

Payments Giant Mastercard Cutting Global Headcount By 3%

APC Plots To Capture Kano, May Replace Shetima With Kwankwaso As Tinubu’s Running Mate For 2027

APC Plots To Capture Kano, May Replace Shetima With Kwankwaso As Tinubu’s Running Mate For 2027

June 22, 2025
Trump Sworn In A Second Time, Says He Was ‘Saved By God’ To Rescue America

JD Vance Says US At War With Iran’s Nuclear Program, Not Iran

June 22, 2025
Niger To Nationalise Uranium Mine Operated By France’s Orano As Relations Sour

Niger To Nationalise Uranium Mine Operated By France’s Orano As Relations Sour

June 22, 2025
MetroBusinessNews

© 2022 Metro Business News

Navigate Site

  • Contact Us
  • About Us

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate

© 2022 Metro Business News

Go to mobile version