The Department of State Services, DSS, may have taken over the job of monitoring downstream petroleum distribution and marketing, as part of the President Muhamadu Buhari’s measures to stem the high level of corruption in subsidy claims.
Consequently, retail outlets found selling any petroleum product above the prescribed government price will be immediately shut down, while any depot selling above the ex-depot price will have to forfeit the subsidy claims on the cargo that brought in the product.
The move followed the apparent inability of the industry regulators, the Department of Petroleum Resources, DPR, and the Petroleum Products Pricing Regulatory Agency, PPPRA, whose officials were apparently overwhelmed by the supply shortages to check sharp practices and market excesses among the operators.
Consequently, the DPR has scheduled another impromptu closed door meeting with marketers and other industry stakeholders today (Wednesday) at its Headquarters in Lagos, to update them on the new development.
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