The Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, has shut down seven private depots for loading petrol above the Federal Government approved N148 per litre.
Independent petroleum marketers had in the past months complained that they were buying the product above N200 per litre from the private depots, making it impossible for them to sell the product at government approved price.
Speaking to journalists on New Year’s eve in Abuja, the Authority Chief Executive, Engr. Farouk Ahmed said the depots would remain shut until a decision is reached on how to proceed.
He listed the companies to include Ardova, Rainoil, TCL, Bluefin, and NEPAL.
Engr. Ahmed said two of the depots are in Lagos, two in Warri, one each in Oghara, Port Harcourt and Calabar.
He assured consumers that the closure would have any impact on the supply of petrol across the country, explaining there is about 30 days of petrol sufficiency.
He noted that as part of efforts to ease petrol scarcity, the Authority has had several engagements with the marketers on how to resolve supply challenges faced by the operators.
He however observed that it was discovered that despite obtaining the product on favourable terms, some privately owned depots were discovered to continue loading the product above government approved price.
