The Nigerian National Petroleum Corporation on Tuesday wielded the big stick on three independent petroleum products marketing firms for various sharp practices, including products diversion and hoarding.

The Pipelines and Products Marketing Company, the NNPC subsidiary in charge of petroleum products distribution and marketing, said Funo Alfa, Organizer West Africa and Rich Oil Company will have their Bulk Purchase Agreement (fuel lifting licenses) revoked immediately for engaging in products diversion and sundry infractions.

The group general manager, Group Public Affairs Division, NNPC, Ohi Alegbe, said the sanction, which takes immediate effect, has cost the three companies the withdrawal of their products lifting licenses, to serve as a deterrent to other marketers determined to frustrate the effort of the government to ensure uninterrupted supply of fuel to consumers.

Consequently, Mr. Alegbe warned fuel marketers all over the country to desist from illegal business of products diversion, hoarding, and any other forms of sharp practices, as the Corporation would not hesitate to clampdown on any of them found wanting.

“The NNPC is closely monitoring the petroleum products market to ensure that those who are not ready to do the business genuinely and lawfully are identified and weeded out,” Mr. Alegbe said. “We must warn that withdrawal of fuel lifting licenses of erring marketers is a continuous exercise.

“Henceforth any oil marketer found to be involved in products diversion will have its Bulk Purchase Agreement with the Pipeline and Products Marketing Company revoked.”

Despite the huge load-out of petroleum products from PPMC depots by both major and independent marketers in recent times, Mr. Alegbe said the NNPC had observed persistent tightness of supply experienced in some parts of the country, which has been traced to massive diversion and hoarding of products by some marketers.

He said the warning for marketers to desist from such sharp practices was issued as part of efforts by the NNPC to sanitize the fuel distribution and supply system and eliminate the long queues at filling stations across major cities in the country.



http://www.premiumtimesng.com/business/oil-and-gas/187055-fuel-scarcity-nnpc-moves-against-3-marketers-revoke-licenses.html

Hmmm?!
This should teach others a lesson. That's if really a punitive measure to curb there excesses.

FTC. I dedicate this to my cute son and beautiful daughter, grant and Anita.

OK

You can revoke all you want, fact is NNPC does not have the capacity to meet 60% of the local demand. The queues will remain as you people keep beating your chest about revocation.

Mehn

Phuck dis world and the government We really livin in hell

XTROVAT:
OK

you're jst a pest trying to survive on introvert's fame which only happened because she was utterly jobless!

Who is the one making all these decisions??

And suddenly everybody wants to be hyperactive now. Ok na.

How e take consign mua

nawa o

atlwireles:
You can revoke all you want, fact is NNPC does not have the capacity to meet 60% of the local demand. The queues will remain as you people keep beating your chest about revocation.

so what do you suggest they do? Gold their hands and watch, which will encourage more marketers to have a field day diverting and hoarding petroleum products?

so will that solve the problem of further aggravate it?

waiting for suggestiona please?

atlwireles:
You can revoke all you want, fact is NNPC does not have the capacity to meet 60% of the local demand. The queues will remain as you people keep beating your chest about revocation.

Nice reading comments from wailing wailers... Lol...

Seamareggae:

Nice reading comments from wailing wailers... Lol...

Almajiri you have been seen, now piss off.

atlwireles:


Almajiri you have been seen, now piss off.

Hahaha haha... A typical wailing wailer... Keep being a wailing wailer for the next 4 years.. U are blessed..

Seamareggae:

Hahaha haha... A typical wailing wailer... Keep being a wailing wailer for the next 4 years.. U are blessed..

Almajiri, stay safe from suicide bombers.

Am tired reading NNPC articles mannn!
Just stop making life miserable for Nigerians.
God bless Nigeria and punish our corrupt leaders.

give president buhari 1000 likes.

And the BAD BELLES say Buhari is not God sent? this man needs our prayers, as the battle will be tough ahead. But, there is no way darkness can take over light.

Buhari, you are a MOSES sent to EGYPT.

Come and FREE us PLEASE.

Buhari today.

Buhari Tomorrow.

Buhari till all the CORRUPT people(PDP)end up in jail.

https://www.nairaland.com/2468461/caption-photo#36137405

“Henceforth any oil marketer found to be involved in products diversion will have its Bulk Purchase Agreement with the Pipeline and Products Marketing Company revoked.”

All in a bid to impress.......... I no talk o!

silly government and country

Ghen ghen

Seamareggae:

Nice reading comments from wailing wailers... Lol...

You were hoping for hundreds of likes from your dullard colleagues abi?

brb


meanwhile fuel is 110 everywhere i go. whats DPR doing about that.

slinkman:
silly government and country

Wailer spotted!

Good development

Sorry, just here to invite you to our thread.

www.nairaland.com/1798724/