By Moses Patience Chat
The Federal Government has said that profiteers who are after making outrageous profits are the people responsible for the sharp and abnormal increase in the price of fuel in the country.
Timipre Sylva, who is Nigeria’s Minister of State for Petroleum Resources, made this known to journalists after the Federal Executive Council (FEC) meeting at the Presidential Villa in Abuja.
Reports revealed that most filling stations across the country are selling fuel above the approved price of N195 per litre. While the price of fuel at some fuel stations fluctuates between N200 and N650 per litre, many others are said to be hoarding the commodity.
Sylva however said that the ministry will have to repeat an earlier directive it gave to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), permitting them to sanction marketers involved in these illicit practices. He also assured Nigerians that the Federal Government, through its dedicated workforce at NMDPRA and other stakeholders, are working to see that the current crisis is brought to an end.
His words: “We have reports of profiteering by marketers, and I’ve directed NMDPRA to sanction anybody who profited from this kind of situation. We cannot stand by and watch our citizens being exploited by marketers.”
Sylva further explained that he had given this directive before, but wasn’t sure if it was carried out. He added that the ministry and other members will not turn a blind eye to the situation.