The petrol sold on the black market in Maradi comes from Nigeria
AFP

Depot owners in Nigeria continue to sell petrol for more than N200 per liter over the weekend even after the Federal Government decided to fix the ex-depot price at N172 per liter, with everyone promising to abide by it.

According to Vanguard, private depot owners sold petrol to independent marketers at more than N200 per liter, claiming that their old stocks had not yet been depleted.

Mike Osatuyi, National Operations Controller of the Independent Petroleum Marketers Association of Nigeria, IPMAN, told Vanguard over the phone that the government has already set the ex-depot price at N172 per liter and that everyone has agreed to follow through. "Unfortunately, the depots' owners are still selling at over N200 per liter. It is expected that they would comply once they finish selling their old stocks," he said.

"Consequently, the independent marketers have not been able to reduce their pump prices. They have continued to sell at between N250 and over N300 per liter, depending on location because they also pay the additional cost for transportation," he added, as per Vanguard.

In the meantime, as part of their efforts to reduce nationwide shortages, the Ijegun-Egba Tankfarm Owners and Operators Association has agreed to sell to gasoline marketers at the Federal Government-approved N172 per liter.

Nigeria's chief of defense staff, Lucky Irabor, issued a warning last week stating that the country's widespread petrol shortage has become a "security risk" and that "none is indispensable" in finding a solution.

Irabor, an army general, said this at a conference of oil regulators, security personnel, and petroleum marketers.

The Nigerian National Petroleum Company Limited (NNPCL) organized the event, where the oil sector regulators engaged marketers and security authorities to discuss solutions to the nation's ongoing gasoline problem.

"The challenge of availability of fuel across the country has risen to a proportion that it had become a concern for the defense and security of our country," Irabor said, as per ThisDayLive.

"The government is not handicapped and I need to indicate that there are alternatives and nobody is indispensable," he added.