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HomeBusinessPENGASSAN condemns marketers hoarding petrol, selling above official price

PENGASSAN condemns marketers hoarding petrol, selling above official price

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The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) empathizes with Nigerians on the hardship currently faced with the scarcity and drastic hike in the price of PMS.

The national leadership of PENGASSAN has been following up with our members in NNPC Trading Limited who are responsible for assigning the products to marketers and our teaming members from NMDPRA in various depots and terminals across the country that are responsible for issuing cargo clearance, monitoring compliance, routing inspection, metering calibration/maintenance, accurate delivery to trucks, record keeping, etc. on the need to carry out their functions expeditiously.

While we understand that the parameters imputed into the old PPPRA and now NMDPRA template has since changed because of some economic vagaries such as exchange rate fluctuation, vessel hiring cost and cost of AGO amongst others, there is no sufficient justification for PMS (Petrol) to be selling for such highly inflated price, thereby subjecting the masses to further difficulties.

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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 in other to hike the price of the product uncontrollably as the prices of the product now sells between N185 to N400 depending on your location and outlet.

From data available to us from our members, there is over 30 days PMS sufficiency in the country; hence there is no basis for the current scarcity and hardship that Nigerians are being subjected to.

We hereby call on the management of NMDPRA to compel all marketers and retailers to make the products available at approved price. They should immediately mobilize all their staff in various locations across the country to monitor compliance and anyone found wanting, should have their license revoked to serve as deterrent.

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.

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