The Department of Petroleum Resources (DPR) in Nigeria has warned petroleum products depots and filling stations owners against products diversion, hoarding, pump manipulation and selling products above government approved prices.
The Director of the DPR, Mr Mordecai Ladan, gave the warning in Abuja on Monday while addressing reporters over the purported resurgence of fuel scarcity in some parts of Nigeria.
Mr Ladan warned that any petroleum products marketer found to be under-dispensing or selling products above government regulated prices shall be suspended for a minimum of two months.
“Marketers caught diverting or hoarding the products for profiteering shall be sanctioned with a fine of two million Naira and have their operating license revoked and prosecuted for national economic sabotage,” he said.
The DPR Director also mentioned that the DPR was collaborating with Petroleum Equalisation Fund and Petroleum Products Pricing Regulatory Agency to ensure that defaulters would be sanctioned accordingly.
Meanwhile, all DPR Offices nationwide have been directed to step up their monitoring activity and ensure full compliance by marketers.
