The Nigerian government has pledged to take decisive action against filling stations charging exorbitant prices for petrol, with the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) vowing to shut down offenders.
According to NMDPRA spokesperson George Ene-Ita, petrol prices should not exceed N650 per litre, contradicting reports of independent oil marketers buying petrol from private depot owners at rates as high as N850 per litre. This has led to pump prices soaring to N900-N1,000 per litre.
The NMDPRA claims that their depot officials report different prices, and they plan to crack down on any outlets found charging excessive prices. “Once we get these outlets, we are going to shut them down,” Ene-Ita warned.
The move comes as Nigerians express growing concern over the rising prices set by independent petrol vendors. The Federal Government has emphasized that price gouging during the sale of Premium Motor Spirit (PMS) is not beneficial to Nigerians.
