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Feature Story;

FG Vows to Shut Down Filling Stations Hiking Petrol Prices"

Yakubu Haruna Yakubu 

The Federal Government has pledged to take decisive action against filling stations charging excessive prices for petrol, with the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) vowing to shut down offenders.

As concerns mount over rising prices set by independent petrol vendors, the NMDPRA has emphasized that price gouging is detrimental to Nigerians. Independent oil marketers claim to be purchasing petrol at rates as high as N850 per litre, attributing the surge in pump prices to increased acquisition costs.

However, NMDPRA spokesperson George Ene-Ita disputed these claims, citing discrepancies between reported prices and official depot prices. He stated that the agency would shut down outlets found charging excessively, as prices should not exceed N650/litre based on NNPC's ex-depot prices and agreed margins.

The crackdown aims to curb price gouging and ensure fair pricing for petrol consumers across Nigeria.