Authorities in Nigeria have shut down seven private depots for selling petrol above the Federal Government’s approved price of N148 ($0.38) per litre.
The depots are located in Lagos, Warri, Oghara, Port Harcourt, and Calabar, were shut by Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) after independent petrol marketers complained that they were being forced to buy fuel for over N200 per litre from the private depots, making it impossible for them to sell the product at the government-approved price.
The Chief Executive Officer of NMDPRA Engr. Farouk Ahmed reassured consumers that the closure would not affect the supply of petrol in the country, as there is currently a 30-day supply available.
He added that the Authority has been working with marketers to resolve supply challenges
