Queues resurface, as oil marketers defy FG’s directives to reduce fuel price

By Etuka Sunday

Oil marketers across the states of the federation including the Federal Capital Territory (FCT), Abuja have refused to heed to the directives of the federal government to reduce the pump price of fuel from N97 to N87, Peoples Daily investigation has revealed.

Recall, the federal government through the Minister of Petroleum Resources, Mrs Diezani Alison-Madueke last Sunday announced the reduction of pump price of fuel to N87 as against the former price of N97.

This it attributed to the volatility in the oil market in the past few months, which impacted the importation prices of Nigerian petroleum products.

Announcing the reduction, the Minister of Petroleum Resources, Mrs Diezani Alision-Madueke said, “with the approval and directive of Mr. President and by virtue of Section 6 clause 1 of the Nigerian Petroleum Act, it is my responsibility as Minister of Petroleum Resources to hereby announce a reduction in the pump price of Petroleum Motor Spirit (Petrol) from the current Ninety Seven Naira (=N=97) per litre pump price down to Eighty Seven Naira (=N87=) per litre pump price, effective from twelve (12) midnight Sunday, 18th of January 2015.”

“Accordingly, I have directed the Petroleum Products Pricing Regulatory Agency (PPPRA) and the Department of Petroleum Resources (DPR) to ensure strict compliance of this price adjustment by all marketing companies.

“It is my hope that all Nigerians will benefit from this adjustment.

I thank you and God Bless you all.”

Meanwhile, investigation revealed that while few filling stations have started selling at the new N87 pump price, many still retain the old price of N97, but promised to adjust to the new approved price as soon as they have exhausted their old stock.

The refusal has however led to scarcity of the product as motorists were sighted yesterday in a long queues across the states trying to buy from few filling satiations that are selling at the approved pump

However, efforts to make Petroleum Products Pricing Regulatory Agency (PPPRA) and the Department of Petroleum Resources (DPR) to speak on the matter proved abortive, as they were not responding to calls as at press time.