Fuel Crisis: NNPC threatens to blacklist depot owners

The Nigerian National Petroleum Corporation (NNPC) has threatened sanctions against private depot owners found selling fuel above the government-approved ex-depot price of N148.17 per litre.

Fuel queues resurfaced in the major cities of Lagos, Abuja and Ogun this week, forcing motorists to spend hours at filling stations.

Many resorted to purchasing the product in the black market for as much as N250 per litre against the approved N165.

And the Independent Petroleum Marketers Association of Nigeria (IPMAN) had said an unfavourable business environment had made it impossible for them to continue to sell petrol for N165 per litre but N180 per litre.

However, IPMAN National President Chinedu Okoronkwo told newsmen in a telephone interview in Kano Thursday that the NNPC issued the warning after a meeting with the association in Abuja on Wednesday.




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