• Contact Us
  • About Us
Monday, June 8, 2026
  • 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

World Shares Drop, Oil Jumps As Middle East Unrest Deepens

Oil Falls More Than 1% As Iran Reviews Proposed US Agreement 

Oil Prices Climb More Than 3% On Fears Of New US-Iran Combat 

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marketers that filling stations that hoard petrol and sell to black marketers in jerrycans would have their licences withdrawn.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

National Grid Collapses For Second Time In Five Days
Oil & Gas

World Shares Drop, Oil Jumps As Middle East Unrest Deepens

June 4, 2026
Ogoniland oil spill
Oil & Gas

Oil Falls More Than 1% As Iran Reviews Proposed US Agreement 

June 2, 2026
Vietnam Ramps Up Crude Import From Nigeria, Others Amid Iran War
Oil & Gas

Oil Prices Climb More Than 3% On Fears Of New US-Iran Combat 

May 15, 2026
Vietnam Ramps Up Crude Import From Nigeria, Others Amid Iran War
Oil & Gas

Vietnam Ramps Up Crude Import From Nigeria, Others Amid Iran War

May 13, 2026
Next Post
Payments Giant Mastercard Cutting Global Headcount By 3%

Payments Giant Mastercard Cutting Global Headcount By 3%

Hamas Hands Over Remaining Hostages To Israel, Trump Says Gaza War Over 

Iran, Israel Exchange Fire In First Clash Since Truce

June 8, 2026
BREAKING: David Mark-Led ADC Leadership Restored As Supreme Court Voids ‘Status Quo Ante Bellum’ Order 

ADC Crisis: David Mark-Led Group Protests At Abuja Federal High Court

June 8, 2026
Ahead Of Agreed Minimum Wage, President Tinubu To Send Bill To NASS, Takeaways From Anniversary Broadcast

Nigeria Postpones South Africa Evacuation Flights To Wednesday 

June 8, 2026
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