The Federal Government has issued a strong warning to oil marketers, threatening to revoke their licenses if they are caught hoarding Premium Motor Spirit (PMS), also known as petrol.
This warning follows ongoing fuel shortages in Abuja, Niger, Nasarawa, Kaduna, and other states. Recently, northern regions have experienced severe fuel shortages, leading to the shutdown of numerous petrol stations.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has announced that stations found hoarding fuel and selling it to black market vendors will face suspension of their licenses. Ogbugo Ukoha, Executive Director of Distribution Systems, Storage, and Retailing Infrastructure at NMDPRA, conveyed this message during a tour in Abuja.
In a video released by the regulator, Ukoha stressed the gravity of the situation and urged station managers to enhance security and halt sales to black market traders.
The NMDPRA has declared a strict stance against the illegal sale of petroleum products, particularly those sold in jerrycans, warning that non-compliance will result in the suspension of retail licenses.
