The Department of Petroleum Resources (DPR) has allegedly suspended the importation permit of six petrol depots in Lagos and Calabar for selling Premium Motor Spirit (PMS), otherwise called petrol, above the official ex-depot price of N77.66 per litre, ThisDay reports.
The action was the first time in a decade that the organisation would apply sanctions of such magnitude on erring operators. The agency in a circular with reference number PI/PAD/25/Vol.1/360 of December 11, 2015, stated that the importation permit of the six depots had been suspended for three months for selling PMS above the stipulated official price of N77.66. In addition to the suspension, the affected depots will also pay a fine of N10 million each to the regulatory agency.
The agency listed the affected depots to include: Samon Petroleum, Calabar; Fynefield Petroleum, Calabar; Staillonaire Petroleum, Lagos; Folawiyo Petroleum, Lagos; Sahara Petroleum, Lagos; and Capital Oil, Lagos.