• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Friday, August 8, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

Nigeria moves to sanction erring fuel stations, maintains N165 pump price

Pump price

The Matters Press by The Matters Press
June 28, 2022
Reading Time: 2 mins read
0
Nigeria plans to increase petrol pump price despite spike in inflation, unemployment

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has deployed officials to petroleum depots and retail outlets to monitor compliance with the regulated N165 pump price.
Mr Ayorinde Cardoso, Zonal Operations Controller, NMDPRA, Lagos, confirmed the development in Lagos.

RELATED POSTS

‎Obi’s One-Term Proposal, a gambit to grab power at all costs -Group ‎

National Single Window initiative, a major step for efficient cross-border trade – TMSG

‎Group celebrates 45% increase in federal revenue in just one month

Some independent petroleum marketers were selling petrol at between N170 to N180 per litre.

Cardoso said that the Federal Government had directed that the players in the sector should comply with the N165 pump price for petrol as stipulated in the pricing template.

Cardoso said: “Our officials are on surveillance to the depots and retail outlets to ensure that they comply with the directive.

“We want to make sure that the depots are selling at the approved ex-depot price to marketers and also ensure that marketers are not selling to motorists above N165 per litre.

“We are optimistic that normalcy will return to petrol distribution in Lagos very soon as we have made a lot of progress in terms of product availability.”

On his part, Mr Chinedu Okoronkwo, President, Independent Petroleum Marketers Association of Nigeria (IPMAN) said fuel queues had eased out in Lagos because more IPMAN members has open for operations.

“The queues are beginning to disappear as more of our members have products now and are selling.

“We have heard complaints that some of them are selling above N165 but you cannot blame them because they bought it at higher prices at the private depots.

“Once products are available everywhere they won’t have option than to sell at N165,” Okoronkwo said.

The Government threatened to sanction any fuel stations or depot selling above the stipulated approved pump price of Premium Motor Spirit (PMS).

The threat followed the persistent fuel scarcity being witnessed in the FCT and its environs as well as in other parts of the country.

Mr Farouk Ahmed, Authority Chief Executive, Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) gave the warning on Monday during a joint inspection on fuel stations in Abuja.

He said the inspection aimed at taking action to enforce the regulations by following up warning given to the oil marketing companies, particularly those selling over the official price of N148 kobo.

He explained that the pump price of PMS was still N165 per litre and remained sacrosanct, adding that nothing had changed and government had not made any other decision on that.

He said it would take an action against defaulters because based on its engagement with the Depots and Petroleum Marketers Association of Nigeria (DAPMAN) and Major Oil Marketers of Nigeria (MOMAN), they were warned against over price at the depot.

He said as a regulator, there were series of actions it could take which included withdrawal of service from a particular depot, shutting and sanctioning them because nobody was above the law and we must enforce the regulations.

According to him, the inspection has been an on-going exercise; the authority has seven teams going round in different locations while NNPC has its own teams going round in many locations with support from the security agencies.

Tags: Petrol
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Obi, PDP candidate advises Buhari to increase tempo
Economy/Technology

‎Obi’s One-Term Proposal, a gambit to grab power at all costs -Group ‎

August 7, 2025
Importers face delays, higher costs on Red Sea woes
Economy/Technology

National Single Window initiative, a major step for efficient cross-border trade – TMSG

August 4, 2025
Chatham House stance on Nigeria’s economy, a non-biased assessment of  reforms
Economy/Technology

‎Group celebrates 45% increase in federal revenue in just one month

July 28, 2025
POLICY STATEMENT 027 BY THE INDEPENDENT MEDIA AND POLICY INITIATIVE (IMPI)
Economy/Technology

Alleged Wasteful Turn Around Maintenance (TAM) of Refineries: Setting the records straight

July 25, 2025
Dangote Fertilizer in gas supply deal
Economy/Technology

IMPI seeks forensic audit of refineries from 2000 to 2023 ‎ ‎

July 25, 2025
Nigeria’s Dangote refinery will cut Africa’s petrol import by 36%
Economy/Technology

‎ADC erred, APC administrations never spent $18bn on refineries-IMPI ‎

July 25, 2025
Next Post
“Naira-4-Dollar” getting results

Dollar beats Naira by 0.21%

Nigeria gets AfDB’s $14m as member of ATI

AfDB approves Pharmaceutical Technology Foundation, to cut $14bn import of medicine

Recommended Stories

Nigeria floats $4bn Eurobonds

DMO issues 2 FGN savings bonds for subscription at N1,000 per unit

November 7, 2022
Nigeria to close energy gap through Rural Electrification Agency

Institute trains 1,000 personnel across African power utilities

March 29, 2024
Minimum wage a reality – Labour

Court extends order restraining NLC, TUC from embarking on strike

June 19, 2023

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • ‎Obi’s One-Term Proposal, a gambit to grab power at all costs -Group ‎
  • National Single Window initiative, a major step for efficient cross-border trade – TMSG
  • ‎Group celebrates 45% increase in federal revenue in just one month

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

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
Call Us