Business
Fuel: Minister Directs DPR, PPPRA To Sanction Erring Marketers

L-R: Manager, Agriculture and Fisheries Sector, Institute of Export Operations and Management (IEOM), Mrs Ovueziue Elo, Market Development Officer, Pind Foundation, Mr Misan Edema-sillo, Executive Secretary Of IEOM, Mr Ofon Udofia and Assistant Manager, Bank of Industry, Mr Harrison Osauwagwe, at the 2015 Institution of Export Operations and Management Stakeholders Forum on e-Commerce Platform for Agric-Business in Port Harcourt, yesterday.
The Nigerian National Petroleum Corporation (NNPC) has called on the public to shun panic buying and stock-piling of petrol, especially during the general elections.
This is contained in a statement by Mr Ohi Alegbe, Group General Manager, Group Public Affairs Department, NNPC, Abuja.
It stated that the Minister of Petroleum Resources, Mrs Diezani Alison-Madueke, had directed the regulatory agencies in the ministry to sanction any marketer found hoarding, diverting or selling products above regulated prices.
The agencies, it said, were Department of Petroleum Resources and the Petroleum Products Pricing Regulatory Agency.
The statement stated that the corporation had enough stock of the product to keep the country wet for two months.
It put the current stock of premium motor spirit (petrol) in its depots across the country at 1.9 billion litres.
It also appealed to petroleum tanker drivers, who had stopped hauling fuel from depots in the coastal states to the Northern part of the country, to return.
It explained that some drivers had expressed anxiety of being caught in unfounded fears of post-election violence.
It, however, stated that the corporation was working closely with security agencies to provide maximum security.
It also cautioned marketers to desist from capitalising on the situation to hoard and divert petroleum products, thereby subjecting Nigerians to unnecessary hardships.
The corporation urged members of the public to discountenance rumours or insinuations of petrol scarcity.
It stated that all issues relating to the importation of fuel by marketers had been resolved.
It stressed that the Petroleum Pipelines and Marketing Company (PPMC) had released a huge volume of petrol into the market.
Business
NCDMB, Dangote Refinery Unveil JTC On Deepening Local Content
Business
Food Security: NDDC Pays Counterpart Fund For LIFE-ND Project
Business
Replace Nipa Palms With Mangroove In Ogoni, Group Urges FG, HYPREP
-
Sports5 days ago
Nigerian Athletes Serving Doping Bans
-
Niger Delta5 days ago
NDLEA Intercepts 584.171kg Hard Drugs In Bayelsa … Arrests 559 Suspects
-
News5 days ago
Tinubu Never Stopped 5-year Visa For U S. Citizens – Presidency ?
-
Business5 days ago
Food Security: NDDC Pays Counterpart Fund For LIFE-ND Project
-
Business5 days ago
Industry Leaders Defend Local Content, … Rally Behind NCDMB
-
News5 days ago
KENPOLY Appoints Abalubu As Ag. Registrar
-
Niger Delta5 days ago
Ex-IYC President Lampoons Atiku’s Presidential Ambition … Declares It Negative Impact On N’Delta
-
News5 days ago
UN Warns Floods May Unleash Toxic Chemicals, Pose Risk To Elderly, Ecosystems