The Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, has threatened to sanction petroleum depots still selling products at exorbitant rates to marketers.
The field coordinator of NMDPRA, Port Harcourt Office, Mr. Tubo-Alabo Lionel, said it is unacceptable for petrol stations to sell the product at between N300 and N500 per litre in Port Harcourt.
Lionel, during a surveillance visit to some filling stations and depots in Port Harcourt, charged petroleum marketers to show proof of buying the product at a high rate at the depots, threatening to sanction any depot found wanting.
He commended residence of Rivers State for their patience and tolerance over the fuel price hike by marketers, and also cautioned against panic buying.
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