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The Nigeria Midstream and Downstream Petroleum Regulatory Agency (NMDPRA) has suspended operations of seven tank farms within Satellite Town in Lagos.
The facilities were recently shutdown but the regulatory agency allowed the trucks on ground at the facilities load products before sealing up the tank farms completely.
It was learnt that the closure of the facilities was sequel to discovery that the operators were selling Petroleum Motor Spirit (PMS) above the ex depot price making the final consumer to buy above N165 per litre.
Some of the depots affected in the closure include: Aipec, Menj, A.A Rano, Rain Oil, Stallioniare, Wosbab, Lado Oil all situated at the Satellite Town, under Oriade Local Council Area of Lagos State.
“NMDPRA suspended some depots from loading PMS as depot are selling above the ex depot price making the final consumer to buy above N165, a source said at the weekend.
It will be recalled that oil marketers recently gave the Federal Government conditions that should be met in order to retain the pump price of Premium Motor Spirit, popularly called petrol, at N165 per litre. (New Telegraph)
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