Agency Clamps Down On Petrol Stations Hoarding Product

The Department of Petroleum Resources (DPR) has embarked on a nationwide tour of petrol stations, expressing its determination to close down petrol stations that are hoarding fuel or selling above the official pump price.
The development is in order to end the queues seen at petrol stations, a situation triggered by what has been described as  artificial scarcity.

In Kaduna metropolis, the Director of the agency, George Osahon, who led his team in the inspection programme, warned independent marketers to stop hoarding the product or face the full wrath of the law.
He also advised the general public not to embark on panic buying as there was enough quantity of the product in stock.

He attributed the scarcity to a chain reaction by the marketers and the public over the rumour of an increase in pump price.

“The current fuel scarcity is as a result of lack of cooperation among the regulatory agencies in the petroleum sector and hoarding of the product by marketers.
“The situation could be brought under control if there is proper coordination,” he said.

Mr Osahon said that the agency would soon introduce an electronic system to effectively monitor fuel distribution.
The team, in their visits, examined the dispensing pumps and the storage tanks of the petrol stations.