All petroleum depots selling petrol and other products above the approved ex-depot price will be sanctioned, the Minister of State for Petroleum Resources, Timipre Sylva, has said.
The minister stated this when he briefed newsmen in Abuja.
He said “We are aware that there are some depot owners who are taking advantage of the situation by increasing the ex-depot price.
“I can assure you that there will be sanctions for any of those depots that continue to increase the ex-depot price as approved.
“We are going to deal decisively with anyone who tries to take advantage of this situation.”
The minister urged Nigerians to report marketers and depots selling at higher rates saying, “If we do not get the report, we cannot know what is going on or sanction them.”
However, many Nigerians view the Minister’s speech as sound and fury, signifying nothing.