Fuel Price Increase: We Have Sanctioned Over 100 Petrol Stations- IPMAN

The national spokesperson of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Yakubu Suleiman has disclosed that over 100 petrol stations have been sanctioned for increasing pump prices.

Briefly after President Bola Tinubu’s speech on May 29 that the petrol subsidy has been cancelled, panic buying erupted in some parts of the country as some marketers closed shops, leading to large queues in filling stations across the country.

In Lagos, Abuja, and other parts of the country, it was observed that since May 29, some filling stations ceased operations; while those that dispensed petrol increased prices as large queues of customers lined up for the commodity.

In a television interview on Wednesday, Suleiman said there is a penalty for filling stations increasing pump prices, adding that 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.”