Capital Oil and Gas Industries Limited has barred oil marketers involved in the sales and diversion of premium motor spirit (Petrol) above government regulated price of N87 per litre from lifting products in its terminal.
The company, in a statement by its Director Media Services, Afam Ilounoh, described the diversion of petroleum products “to locations other than those approved by relevant authorities” as “unpatriotic”.
Iluonoh explained that the ban has become necessary to save Nigerians from such “unscrupulous practices as these ultimately affect the citizens of our country as products are sold at some locations above the fixed price of N87/litre for Premium Motor Spirit (PMS).
“Since Capital Oil& Gas distributes a high percentage of petroleum products consumed daily nationwide, the general perception held by some filling station operators and end users may be that we are short changing Nigerians,” he added.
The company explained that “going forward, only marketers that are willing to comply with the directive to deliver petroleum product loaded for designated locations or filling stations and sold at the stipulated prices will be allowed to load from our terminal.”
According to Ilounoh, Capital Oil was fully aware that the ban “will generate lots of threats, intimidation and blackmail from various quarters especially those involved in these activities. But we shall not be deterred.”
He restated the company’s determination to “join hands with the relevant government agencies to ensure products loaded from our terminal are discharged at designated filling stations nationwide in line with directives given at various stakeholders’ meetings held with relevant government agencies.”
“Capital Oil is committed to making petroleum products available to Nigerians at the prices stipulated by the relevant government agencies and have indeed played a vital role in ensuring constant availability of petroleum products nationwide,” he stressed.