The Department of Petroleum Resources (DPR) says it will sell petrol free of charge to buyers if it gets hold of any filling station where the commodity is being sold above the official pump price of N86.50.
Dorothy Bassey, the agency’s assistant director of public affairs, disclosed this to in Lagos on Friday.
“We have put effective monitoring teams in place that will go out to monitor the level of compliance with the new pump price,” she said.
“We will ensure that any station caught selling above the pump prices will have its product dispensed to customers for free.
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“You know that there is holiday today, monitoring is going round, but we are going to commence on rigorous monitoring when we resume on Monday. People just refused to change to what will be beneficial to all, but we were assured that it will not be the same story next week.”
Chinedu Okoronkwo, national president of Independent Petroleum Marketers Association of Nigeria (IPMAN), stated that marketers were selling their old stock.
Okoronkwo said that market forces would compel everybody to comply.
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“People should see the policy as a policy that will unlock the sector,” he said.
“I’m sure they will change to the new price once they finish selling the old stock and work with the new regime of Muhammadu Buhari and begin to move the sector forward.”
Following the federal government’s announcement of new pump price, marketers have partially complied to the directives, as petrol had since been selling at NNPC retail stations at N86 per litre, while most major marketers were selling at N86.50.
NNPC retail stations at Ogunnusi area of Omole in Lagos State sold at N86 per litre, while Conoil station at Oba Adejobi street, opposite LASUTH, Ikeja, sold at N86.50 per litre.
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Some marketers were, however, selling at N87 per liter and they explained that they were selling the old stock and that until the old stock was exhausted, they could not change to new pump price.
Filling stations, including Oando situated at Pako bus stop, along Lagos-Abeokuta Expressway; Conoil at Ikeja near Murtala Muhammed Domestic Airport and Mobil filling station at Obafemi Awolowo way, Ikeja, were selling at N87 per litre.
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Questions: Does the DPR have the powers to sell the products of companies for free? Should they have the powers? Is the approach by the DPR and the other authorities sustainable?
Meanwhile, I bought petrol about three hours ago. At the station, the price displayed was 87 Naira per litre but it sold for 140 Naira per litre. Does anyone care? Not those who freely sold, not those who freely bought and certainly not those who think they can recall a speed train long after it left its station.