The Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, said the government will start monitoring depots amid fuel scarcity.
Ahmed stated that filling stations and depots will be monitored to prevent oil marketers and retailers from hoarding fuel in a bid to profit from the scarcity of fuel in the country.
Prime Business Africa had reported weeks back that the Department of State Securities (DSS) issued a warning to oil marketers, giving them 48 hours to end the scarcity of Premium Motor Spirit (PMS), known as fuel.
The spokesperson for DSS, Peter Afunanya, disclosed that security operatives will clampdown on persons aiding the artificial fuel scarcity that lasted for several months last year and continued this year.
Following the warning, the Federal Government shutdown seven depots in various locations for selling fuel at outrageous prices to retailers in the country.
In a report by Punch on Monday, Ahmed said, “In shutting down the depots, we calculated to see what effects it would have on the flow and distribution of petroleum products. We have enough products across the country.
“We also looked at the availability in other depots within the zones and we realised that even though we shut the seven depots, the effect on the supply within those zones is not going to be significant.
“It will also help us by making those who are hoarding bring out the products because the next level is to go and start checking the tanks of petrol stations and depots to ensure that no marketer or retailer is hoarding the product.”
Recall that Prime Business Africa had previously reported that oil marketers demanded the government should dispense fuel from the depots shut down by the authorities.
According to the oil marketers, locking the depots at a period the country doesn’t have enough fuel to supply the public will extend the scarcity of the products and prolong queues in filling stations.
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