The federal government, through the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), has threatened to shut down any filling stations found to be profiteering from Nigerians by selling Premium Motor Spirit (PMS), also known as petrol, at exorbitant prices of up to N1,000 per litre.

This comes as fuel scarcity continues to worsen in parts of the country, with long queues persisting at filling stations nationwide. The NMDPRA has alleged that several filling stations operated by independent marketers have raised their prices to between N900 and N1,000 per litre, exploiting Nigerians.

In contrast, petrol is sold at Nigerian National Petroleum Company Limited (NNPCL) outlets for between N568 and N617 per litre, leading to long queues at these stations. Independent oil marketers have defended the price hike, claiming they purchase petrol from private depot owners at prices as high as N850 per litre.

However, NMDPRA spokesperson George Ene-Ita disputed these claims, stating that prices reported by the agency’s officials at the depots differ significantly. “Our depot personnel report different figures because we require them to publish daily prices, and it’s certainly not N850 per litre,” Ene-Ita explained.

When confronted with reports of some filling stations selling petrol at N900 to N1,000 per litre in Lagos and other states, Ene-Ita assured that such stations would face closure if caught. The federal government’s threat to shut down erring filling stations comes as a response to public outcry over the stark price difference between NNPC outlets and independent marketers.

The NMDPRA’s move aims to curb profiteering and ensure Nigerians have access to affordable petrol. As fuel scarcity persists, the government’s actions will be closely watched to see if they can alleviate the suffering of Nigerians facing long queues and exorbitant prices.