The Department of Petroleum Resources, DPR, has imposed a fine of one million naira on fuel stations selling above the new pump price.
Speaking at a meeting in Abuja, the Director of the Department of Petroleum Resources, Mordechai Ladan, stated that such fuel stations also risk being closed for three months.
He said that the agency had observed that compliance by petroleum marketers has not been good enough but warned that the weight of the law would catch up with those found violating its orders.
Top officials of the DPR had converged on the nation’s capital to assess the level of compliance to the new fuel pump price of N86:50k across the country.
The officials, one after the other, told journalists their efforts so far to ensure strict compliance with the new price for petroleum products as well as ensuring availability of the products.
The meeting came after the Minister of Petroleum Resources called for a step up in surveillance activities on retail outlets across the country.
Resolutions reached at the end of the meeting focused on strict enforcement and tougher sanctions on marketers who fail to comply with the official pump price for petroleum products.
