NMDPRA Seals Filling Stations, Fines Owners as New Petrol Pump Price Emerges

• The NMDPRA has sealed more than 12 filling stations and fined three marketers for allegedly receiving stolen fuel
• The agency's action follows reports from a Nigeria Customs Service (NCS) operation in August 2024
• This action comes as new petrol pump prices emerge across the country, with Nigerians now paying over N950 per litre

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has sealed several filling stations and fined three marketers for allegedly receiving stolen fuel.

This followed an operation conducted by the Nigeria Customs Service (NCS) in August 2024, which led to multiple seizures of smuggled petroleum products.

Punch reports that the filling stations sealed were captured in the NCS report for August.

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According to the report, NCS, in August, intercepted seven petrol trucks, closed 12 retail outlets, and confiscated 466,000 litres of petrol.

In addition, 23 vehicles were seized, and seven suspects were arrested and prosecuted following investigations into the illegal fuel trade.

Part of the report reads:

“The NCS also intensified its ‘Operation Whirlwind’ to combat the smuggling of petroleum products, especially in border states.

"The operation over the months has led to the interception of seven PMS (Premium Motor Spirit) trucks, the sealing of 12 retail outlets, and the seizure of 466,000 litres of PMS and 23 vehicles"

The sealed filling stations were handed over to the regulatory body for further action.

Following the investigation, the NMDPRA imposed fines on three marketers who distributed the stolen fuel.

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Marketers ready to buy Dangote petrol as NNPC lifts 70 trucks of petrol from refinery

Oil marketers react to new petrol pump price

In related developments, various petroleum marketers associations in Nigeria have raised concerns over petrol pricing from the Dangote refinery.

The NNPC has released the prices of petrol from the Dangote Refinery, ranging from N950 to as high as N1,019 per litre in the north.

Marketers have urged the NNPC to review these prices, emphasizing that locally refined fuel should not be sold at a higher price than imported fuel.

One of the groups, IPMAN, stated that the pricing strategy for locally refined petrol should reflect the benefits of domestic production, providing Nigerians with a more affordable option.

Marketers have also predicted that petrol prices could rise as high as N1,200 at filling stations based on the NNPC's announcement.

Source: Legit.ng