Resulting from a meeting held on Wednesday 29^th July, 2015 in Lagos between the Department of Petroleum Resources and all stakeholders in the downstream sector of the petroleum industry including; PPMC, PPPRA, MOMAN, DAPPMAN & IPMAN which was summoned to convey Government’s displeasure at the illegal sale of petrol above the stipulated pump price and the ever lengthening of vehicular queues at the filling stations, the DPR hereby issues the following statement and directives;

1. Pursuant to the Petroleum Control Act CAP.351 Laws of the Federation of Nigeria 1990 and the Petroleum Act 1969 (as amended) –

Preliminary investigations revealed that the prevailing hike in retail prices of PMS & DPK across the country is as a result of the unscrupulous activities of some depot owners and major marketers who are engaged in selling PMS & DPK to various retailers at prices higher than the official ex-depot price of N77.66k & N34.51K respectively

2. In order to check the unprincipled activities of these Depot Owners and Major Marketers in this regard and to prevent the further imposition of hardship on the general public, the DPR is resolved to take immediate steps to directly supervise the sale of PMS & DPK from these affected depots in order to ensure that appropriate pricing is strictly adhered to.

3. This process will involve;

• The immediate suspension of direct sales of PMS and DPK from the affected Depot Owners and Major Marketers
• The immediate setting up of a special DPR task force on supervision and monitoring of product sales from the affected depots with powers to undertake the sale of products from these depots (the task force shall liaise with the PPMC, PPPRA and the Law enforcement agencies)

4. The DPR special task force shall issue directives and guidelines to the

general public on the procedure for the enforcement of the supervised sales throughout the period of this exercise until normalcy returns to the sector.

We hereby reiterate our directive to all Depots, Marketers and Operators in the sector to abide by the official pricing regime to avoid DPR sanctions which may include the activation of all conditions that may lead to the denial of any marketer from further participation in the PSF scheme and the withdrawal of licenses of a facility.

Signed:

Director of Petroleum Resources