Defaulting oil marketers to face licence revocation, N2m fine – DPR

Directorate of Petroleum Resources (DPR) on Monday warned owners of petroleum products depots and filling stations operating in the country against products hoarding and diversion, and the manipulation of fuel pump or selling of products above government approved prices.

It also threatened that marketers caught diverting or hoarding the products for profiteering shall be sanctioned with a fine of N2 million and have their operating licenses revoked and prosecuted for national economic sabotage.

Mordecai Ladan, director of DPR, gave the warning in Abuja while speaking against the backdrop of the purported resurgence of fuel scarcity in some parts of the country.

According to him, “any petroleum products marketer found to be under-dispensing or selling products above government regulated prices shall be suspended for a minimum of two months.”

The DPR boss further said they were collaborating with the Petroleum Equalisation Fund (PEF) and Pipeline Products Pricing and Regulatory Agency (PPPRA) to ensure that defaulters were sanctioned accordingly.

Meanwhile, all DPR offices nationwide have been directed to step up their monitoring activity and ensure full compliance by marketers.

YANGE IKYAA