Subsidy: We’ve Sanctioned Over 100 Petrol Stations For Increasing Pump Price – IPMAN

Posted by Nwa Diokpa Featured, Latest Headlines, News Across Nigeria Thursday, June 1st, 2023

(AFRICAN EXAMINER) – The national spokesperson of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Yakubu Suleiman, has stated that over 100 petrol stations have been sanctioned for increasing pump prices.
The African Examiner writes that just after President Bola Tinubu’s speech on May 29 that the petrol subsidy has been cancelled, it resulted to panic buying in many parts of the country as some marketers closed shops and this led to large queues in filling stations across the country.
Speaking in an interview with Channels Television on Wednesday, Suleiman stated that there is a penalty for filling stations increasing pump prices and over 100 sanctions have been placed on defaulters.
“We have a task force that goes around all the filling stations in the country and I want to assure you that they are there, working right from yesterday,” he said.
“Any filling station caught increasing the price just because of this announcement, there has to be a penalty against such stations. We sanction those who default. We close the stations. Our task force is there doing its job.

“As of yesterday, more than 100 filling stations have been sanctioned. Some of them, when we go through their reports, are not real petroleum marketers. Real ones cannot go against the rule of their administration.”