Fuel scarcity: FG blames profiteers for petrol price hike, to unleash NMDPRA
Written by Taiwo Adekola on February 9, 2023
The Federal Government has blamed rising cost of petrol in the country on activities of marketers eager to make illicit profits from the hardship of Nigerians.
Minister of State for Petroleum Resources, Timipre Sylva, disclosed this to newsmen, yesterday, after the Federal Executive Council, FEC meeting, chaired by President Muhammadu Buhari at the Presidential Villa, Abuja.
Reports indicated that most fuel stations in different parts of the country now sell above the approved pump price of N195, oscillating between N200 and N650, with many others reportedly hoarding the product.
Sylva, however, said the ministry might repeat an earlier directive to the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA to sanction the marketers.
He assured that all stakeholders in the downstream sector are working to ensure the current crisis is brought under control.