{"id":164064,"date":"2022-03-19T08:32:44","date_gmt":"2022-03-19T07:32:44","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=164064"},"modified":"2022-03-19T08:33:57","modified_gmt":"2022-03-19T07:33:57","slug":"well-sanction-depot-owners-selling-pms-above-approved-price-fg","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2022\/03\/19\/well-sanction-depot-owners-selling-pms-above-approved-price-fg\/","title":{"rendered":"We&#8217;ll sanction depot owners selling PMS above approved price &#8211; FG"},"content":{"rendered":"<p>The federal government has stated that it will impose sanctions on depot owners selling petroleum products above the approved ex-depot price.<\/p>\n<p>This was stated on Thursday in Abuja by Timipre Sylva while<span class=\"s2\">\u00a0briefing journalists on efforts to resolve the issue of fuel scarcity in the country.<\/span><\/p>\n<p class=\"p1\"><span class=\"s2\">The Nigeria Union of Petroleum and Natural Gas Workers <a href=\"https:\/\/www.withinnigeria.com\/news\/2022\/03\/01\/we-will-not-lift-pms-for-depot-owners-selling-above-official-price-nupeng\/\">(NUPENG)<\/a> had stated that it would<\/span><span class=\"s2\">\u00a0not lift products for depot owners selling petrol above the official depot price.<\/span><\/p>\n<p class=\"p1\"><span class=\"s2\">Sylva emphasised that some depot owners were preying on the current situation to increase ex-depot price.<\/span><\/p>\n<p class=\"p1\"><span class=\"s2\">\u201cWe are aware, just like President Muhammadu Buhari said in a statement, that there are some Depot Owners who are taking advantage of the situation by increasing the Ex-depot price,\u201d NAN quoted Sylva as saying.<\/span><\/p>\n<p class=\"p1\"><span class=\"s2\">\u201cI can assure you that there will be sanctions for any of those depots that continue to increase the ex-depot price as approved. We are going to deal decisively with anyone who tries to take advantage of this situation.<\/span><\/p>\n<p class=\"p1\"><span class=\"s2\">\u201cIts been a difficult few weeks; few weeks ago, we had issues of petroleum product shortage. I have already addressed that matter which coincided with the geopolitical tension in Ukraine and Russia.<\/span><\/p>\n<p class=\"p1\"><span class=\"s2\">\u201cPrices of crude oil went up exponentially beyond levels expected. As you all know, when crude oil prices rise to that level, they can also affect the derivatives of crude oil.<\/span><\/p>\n<p class=\"p1\"><span class=\"s2\">\u201cNigerians are suffering because of the high diesel prices, including everywhere else globally.<\/span><\/p>\n<p class=\"p1\"><span class=\"s2\">\u201cThis is not peculiar to us at all. Diesel is a deregulated product and therefore when the prices go up internationally it affects the price also in Nigeria.\u201d<\/span><\/p>\n<p class=\"p1\"><span class=\"s2\">The minister said trucks that could move petroleum products, that ran on diesel, were impacted and could not cope with the high diesel prices.<\/span><\/p>\n<p class=\"p1\"><span class=\"s2\">He added that though products were available in the depots, the trucks could not move the product because of the high cost of transportation.<\/span><\/p>\n<p class=\"p1\"><span class=\"s2\">This, he said, brought in another dimension to the crisis.<\/span><\/p>\n<p class=\"p1\"><span class=\"s2\">Sylva urged the public to report any fuel station or depot owner who tried to take advantage of the situation so that they would be sanctioned.<\/span><\/p>\n<p class=\"p1\"><span class=\"s2\">\u201cIf any deport owner increases price or any fuel station tries to take advantage of the situation, the public should report immediately,\u201d he said.<\/span><\/p>\n<p class=\"p1\"><span class=\"s2\">\u201cIf we do not get the report, we cannot know what is going on or sanction them.\u201d<\/span><\/p>\n<p class=\"p1\"><span class=\"s2\">According to him, so far, the management of the Nigerian National Petroleum Company Limited (NNPC) and Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), had been working tirelessly and the situation is gradually being controlled.<\/span><\/p>\n<p class=\"p1\"><span class=\"s2\">He said supply is being jacked up, especially that of Abuja.<\/span><\/p>\n<p class=\"p1\"><span class=\"s2\">\u201cWe are not resting; we share the pains of Nigerians,\u201d Sylva said.<\/span><\/p>\n<p class=\"p1\"><span class=\"s2\">\u201cWe will continue to ensure that the situation is controlled. Queues are coming down in Lagos and other parts of the country. Very soon, this will be a thing of the past.\u201d<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The federal government has stated that it will impose sanctions on depot owners selling petroleum products above the approved ex-depot price. This was stated on Thursday in Abuja by Timipre Sylva while\u00a0briefing journalists on efforts to resolve the issue of fuel scarcity in the country. The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) [&hellip;]<\/p>\n","protected":false},"author":17,"featured_media":164065,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_override_bookmark_settings":[],"jnews_override_counter":[],"footnotes":""},"categories":[2],"tags":[31353,371,12008,8593],"class_list":["post-164064","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","tag-depot-owners","tag-fg","tag-fuel-scarcity","tag-nupeng"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>We&#039;ll sanction depot owners selling PMS above approved price - FG<\/title>\n<meta name=\"description\" content=\"The federal government has stated that it will impose sanctions on depot owners selling petroleum products above the approved ex-depot price.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.withinnigeria.com\/news\/2022\/03\/19\/well-sanction-depot-owners-selling-pms-above-approved-price-fg\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"We&#039;ll sanction depot owners selling PMS above approved price - FG\" \/>\n<meta property=\"og:description\" content=\"The federal government has stated that it will impose sanctions on depot owners selling petroleum products above the approved ex-depot price. 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