The Edo State government has warned that independent petrol marketers, otherwise known as filling stations, who hoard the product in the state, risk losing their lands where such stations are sited.

Government was reacting to the sudden artificial scarcity and price hike of fuel in the state that greeted the removal of subsidy on petrol by the new Nigerian leader, President Bola Tinubu.

Tinubu had in his inaugural speech on Monday, May 29, announced the removal of fuel subsidy from July 1, 2023, noting that his government will not provide funds to subsidise the product.

He said he is taking this decision because the 2023 budget has not provided for the payment of fuel subsidy from the second half of the year.

In the 2023 Appropriation Bill signed by his predecessor and immediate-past President Muhammadu Buhari, the provision was only for January 1 to June 30.

In response, long queues re-emerged at petrol stations in Benin as operators responded to the development with a sharp hike in pump price, just as consumers crowded to the petrol stations.

Checks by METROWATCH late Monday showed that some petrol stations responded to the development by increasing their prices to about N350 from the initial N205 per litre.

Further checks by our correspondent showed that most petrol stations who were selling fuel before the announcement, simply hoarded the product by shutting their stations in anticipation of price increment.

Reacting to the developments on Tuesday in a statement issued by Osaigbovo Iyoha, Chief of Staff to the Governor, the State government ordered all petrol stations to immediately resume sales of fuel to Edo people or risk immediate closure, and possible revocation of their property.

The statement read, “The attention of Edo State Government has been drawn to the unscrupulous attempt by petrol dealers in the state to hoard fuel and create artificial scarcity and price hike.

“As a responsible government that cares for her citizens, we shall resist this economic sabotage by every legal means possible.

“To this end, all petrol stations are ordered to immediately resume sales of products to Edo people or risk immediate closure, and possible revocation of their property to enable others who want to do legitimate and respectful business in Edo State come and invest.

“We cannot continue to allow extortion of our people in whatever guise.

“A word is enough for the wise.”

https://metrowatchxtra.com/2023/05/30/subsidy-hoard-fuel-lose-your-land-edo-govt-warns-petrol-stations-metrowatch/

Lala Seun Mynd4

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