REVOKE LICENCES OF OIL MARKETERS SELLING ABOVE APPROVED PRICES – PENGASSAN URGES FG
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The Federal Government has been requested by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) to revoke the licenses of oil marketers selling Premium Motor Spirit above the allowed pump price (PMS).
In order to act as a deterrent, PENGASSAN recommended that the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) promptly mobilize its staff in various areas around the country to check compliance.
In a statement released on Monday, PENGASSAN’s National President, Mr. Festus Osifo, stated that the demand for license cancellation had become urgent because of the ongoing shortage of PMS over the previous six months.
“Should this collusion go on unchecked, we will not hesitate to partner with other stakeholders in ensuring that Nigerians are not further exploited. A stitch in time saves nine,” he said.
Osifo, while empathising with Nigerians on the hardship currently faced with the scarcity and drastic hike in PMS price, decried that one litre of PMS is being sold between N185 to N650, depending on the location and outlet.
“While we understand that the parameters imputed into the old PPPRA and now NMDPRA template has since changed because of some economic vagaries such as exchange rate fluctuation, vessel hiring cost and cost of Automotive Gas Oil (AGO) amongst others.
“There is no sufficient justification for PMS to be selling for such highly inflated price, thereby subjecting the masses to further difficulties.
“Even though we have some good marketers who tend to play by the rules, others who are overbearing have deployed methods of creating artificial scarcities to hike the price of the product uncontrollably.
“From data available to us from our members, there is over 30 days PMS sufficiency in the country; hence there is no basis for the current scarcity and hardship that Nigerians are being subjected to,” he said.
He said that PENGASSAN’s national leadership had been getting in touch with its members at NNPC Trading Limited, who were in charge of designating the products to marketers.
He claimed that the NMDPRA has been monitoring its team members in several depots and terminals across the nation regarding the requirement to complete their tasks quickly.
These individuals, according to him, were in charge of, among other things, issuing cargo clearance, monitoring compliance, routing inspection, metering calibration and maintenance, providing precise distribution to vehicles, and keeping records.
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