Prices captured during the clamp down by the enforcement team of NMDPRA , witnessed by Journalists ranged between N290, N295 and N300 per litre, as against ex-depot pump price of below N290.
The Zonal office Coordinator of NMDPRA in Kano, Aliyu Sama, said “the sealed stations risk revocation of their operating licences or payment of N150,000 fine per pump.”
“As at today in Lagos, the depot owners are selling at N230 per litre to independent marketers; so, with this amount, we understand they cannot sell below cost prize. But you can’t sell at N300 or N290 per litre because government is paying N45 per litre as bridges claim.
“If the landing cost is between N230 and N280, and you subtract bridges cost of N45 from the landing cost, you have N235, at least we expect a profit margin of N15. So, marketers can still sell below N290 and make their profits conveniently.