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Overpriced Petrol: PENGASSAN Asks Govt to Revoke Marketers’ Licences

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The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has urged the federal government to revoke the licenses of oil marketers selling above the approved pump price of petrol.

PENGASSAN said the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) should immediately mobilize its staff in various locations nationwide to monitor compliance.

In a statement on Monday, its national president, Festus Osifo, said the call for the revocation of licenses became urgent, following the persistent scarcity of petrol in the last six months.

“Should this collusion go on unchecked, we will not hesitate to partner with other stakeholders in ensuring that Nigerians are not further exploited. A stitch in time saves nine,” he said.

Osifo empathized with Nigerians on the hardship currently faced with the scarcity and drastic hike in petrol price.

“There is no sufficient justification for PMS to be selling for such a highly inflated price, thereby subjecting the masses to further difficulties,” he said.

“Even though we have some good marketers who tend to play by the rules, others who are overbearing have deployed methods of creating artificial scarcities to hike the price of the product uncontrollably.

The government-approved price of a liter of petrol is between N169 (in Lagos) and N189 (in the North East) but fuel stations have been selling for between N190 and N600 in different parts of the country.


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