The Federal Government yesterday moved to enforce the regulated pump price of petrol at N87 per litre days after a biting scarcity, occasioned by the disruption of the supply system, forced price to rise as much as N500 per litre. The Department of Petroleum Resources (DPR), in a statement, warned filling stations against selling above the official pump price or risk being shut down.
The DPR’s position came a day after a deal by fuel marketers and the Federal Government led to the restoration of lifting the commodity, leading to the easing of the fuel short age that worsened in the last two weeks. However, a former Governor of Abia State, Dr. Orji Uzor Kalu, has considered the deal between the marketers and government as a short-term solution to the frequent fuel shortage in Nigeria and called on President Goodluck Jonathan to urgently remove subsidy before he hands over to the President-elect, Major General Muhammadu Buhari, on Friday.
This came as the Depot and Petroleum Products Marketers Association (DAPPMA), an association of marketers and importers, disowned one of its members, Capital Oil and Gas Limited, for being “mischievous,” over claims that the association was on strike, an allegation, he claimed caused fuel scarcity.
The DPR, in a statement by its Head Public Affairs, Dorothy Bassey, tasked Nigerians to report any marketer who sells the product above the regulated price to its officials or law enforcement agents. “While the Department of Petroleum Resources (DPR) is making every effort to ensure that fuel is available and reaches every part of the nation, it is hereby emphasised that the Federal Government has not increased the price of fuel. “The price remains at N87. Any station caught selling above the stipulated price, will have its licence revoked.
“No station should sell in jerry cans as there is enough fuel and for safety reasons. Any station caught dispensing into jerry cans will be sealed. “We ask that the public exercise caution and cooperate with all guidelines and processes for the safety of all,” it said.


However, in his reaction to the fuel crisis, Kalu, while calling on the president to float fuel price, said if Jonathan should fail to stop the subsidy regime, which has cost Nigerians over N6.354 trillion in the last five years, Buhari should implement it immediately he is sworn in on Friday. Kalu, in a statement yesterday, said: “The Federal Government has spent N6.354 trillion as subsidy on petroleum products in the last five years, when President Goodluck Jonathan assumed leadership of Nigeria. Penultimate week, it paid N156 billion to oil marketers, bringing total payment to over N500 billion in five months, including over N300 billion in two instalments in December last year and N31 billion in interest differentials recently. “In 2010, a total of N673 billion was paid on subsidy, rising significantly to N1.3 trillion in 2011, before being revised upwards to N2.19 trillion by the Ministry of Finance, after arrears were paid in 2012 for products consumption in 2011.
“In 2012, the sum of N888 billion was allocated to subsidise petroleum product imports in the budget, but in December, a supplementary budget of N161.6 billion for payment of arrears of fuel subsidy was submitted by the president and later approved by the National Assembly. “By the following year, 2013, the government earmarked N971 billion for petroleum subsidy.
For 2014, the Federal Government again budgeted N971.1 billion for payments of subsidy, keeping it at the same level with that of 2013. “Though, despite insinuations and reports that there was no provision for fuel subsidy in the 2015 budget, the Senate Committee Chairman on Finance, Ahmed Makarfi, cleared the air, saying that a total of N100 billion was provided for as subsidy for Premium Motor Spirit (PMS), while N43 billion was approved for Dual Purpose Kerosene for the 2015 fiscal period. “You can imagine what the N6.345 trillion spent on subsidy can be used for in terms of infrastructural development in this country.” According to Kalu, it is high time Nigeria stopped wasting public funds on subsidy, which benefits only the rich. He described the fuel subsidy regime as nothing but fraud, which is only benefitting a few people.
“The subsidy is not benefitting the poor because the marketers smile to the bank after collecting the full benefit on the over 40 million litres of products (PMS and DPK) consumed by Nigerians per day, leaving a lopsided distribution network, where not all Nigerians are able to get the products at the regulated price of N87 per litre. “In fact, a recent study showed that it is only in Lagos and a few urban centres that the products are sold at regulated prices.
The larger chunk of the populace buys the product still at exorbitant prices despite subsidy.” Kalu, who lamented the agony and suffering Nigerians who voted Jonathan into power four years ago have had to go through, said the subsidy regime could not be sustained. Besides, he urged the Jonathan administration to stop playing politics with the apparatus of government by using it to intimidate and embarrass innocent citizens. Rather, he said, such agencies should be used to fight corruption. “All these intimidation is damaging a lot of serious business people in this country.
The Economic and Financial Crimes Commission (EFCC) knows who those corrupt people are and where to get them. How would a public officer wake up one day and buy a house in Maitama and hop on private jet every minute? Nigeria should get serious,” he added. Meanwhile, DAPPMA in a statement yesterday by its Executive Secretary, Mr. Olufemi Adewole, criticised Mr. Ifeanyi Uba’s Capital Oil and Gas Industries for its claim that marketers were on strike. It said the company was being mischievous as it “had been disqualified from the Petroleum Support Fund (PSF) scheme by the government regulatory agency and does not import PMS (petrol).”
“The company is not owed a kobo under the ‘PSF scheme as they cannot make any claim, hence they do not feel the impact of non-payment of subsidy reimbursements; instead, the company stores petroleum products for NNPC/ PPMC under a ‘throughput arrangement’ as do a few other members of our association,” it added.


It was also learnt yesterday that the outgoing government has agreed to pay $800 million debt to fuel marketer to resolve the fuel crisis crippling the economy. The ABC News, in a report, quoted an Independent Petroleum Marketers Association of Nigeria (IPMAN) source to have said that the Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, agreed on Monday to pay the marketers the $800 million. There was no immediate statement from the minister, who accused the suppliers of holding Nigeria to ransom over the disputed debt, bemoaning, “so much fraud allegations and scams in this business of oil marketing.”

http://www.premiumgist.com/any-station-caught-selling-above-the-n87-stipulated-price-will-have-its-licence-revoked-fg-warns/

Caught abi.....

The same FG that couldn't address Nigerians on the current trash happening in the country. Yet some mofos believe they still got a president wish we could fast-forward straight to Friday and delete this clueless fedora hat drunkard off Aso Rock

Let's hope they can effect it...
This feels like the case of a rat that is biting one......it blows air on the bitten part and bites of more

Indiraserv

Interesting.

AbuuUsaamah:
Ani oponu ni Jonathan se.

oponu jati jati

Which government is giving this warning?

Nigerians taking advantage of crisis since 0001BC

I pity this nation

Good move


But I still prefer full removal of subsidy and the funds utilised in revamping the refineries

This is not a good time to have a car. Or a generator. Or live in Nigeria.

Na today!!

Jonah really teach us lesson. may god deal with him and his evil companions

FG not threatening that petroleum products be supplied in abundance,but threatening retailers. Does FG expect them not to take advantage of the scarcity?

Nice parting shot from Jona!!
God bless you sir
you shall live long!!!!
As you embark on your UN journey to greatness, it shall be well with you.
We will never the man that put his nation first!!!!

One of the greatest quote of all time:
” My ambition is not worth the life of any Nigerian' - Goodluck Ebere Jonathan 2015

Nigeria first, Nigerians always!!!

I can Bet this are d words of Buhari nt Jonah... I knw Three Filling stations around my area that neva sold for 87naira, even when it was 97 dey sold theirs 100...

Jonah wey no get mouth abeg make him dey go otueke jeje

“No station should sell in jerry cans as there is enough fuel and for safety reasons. Any station caught dispensing into jerry cans will be sealed. “We ask that the public exercise caution and cooperate with all guidelines and processes for the safety of all,” it said.

If they dont, how can we fuel generator in the face of total blackout, abi this one is not in Nigeria.

Lolz.... Laugh won kill here. Which FG government. Is it this clueless, toothless, shameless present FG buying stove with 5billon Naira.

[quote]The Federal Government yesterday moved to enforce the regulated pump price of petrol at N87 per litre days after a biting scarcity, occasioned by the disruption of the supply system, forced price to rise as much as N500 per litre. The Department of Petroleum Resources (DPR), in a statement, warned filling stations against selling above the official pump price or risk being shut down.[/qoute]so u have this time of power and u refused to use it over 3 weeks? let's see how it goes?

They should go and sit down! Where were they when Nigerians were buying it by the roadside for over N150?

Medicine after death. The black market sellers are stations too atink.

Just do quick and go. Na only tomorrow dey between today and ya expiry date

Am tired of hearing this noisy talks....are they daft or blind to knw or see that almost all the fuel stations sell more than 100naira?

They should move around and find out themselves

Gud move

Good luck enforcing that rule.

yuo shina...good thinking.

R