TheCable

Despite Sunday’s announcement by Diezani Alison-Maduekwe, the minister petroleum resources, that the federal government had reduced the pump price of petrol from N97 per litre to N87 per litre, most filling stations in Lagos are still selling at the old rate.

In Abuja (pictured), though, compliance rate among filling stations is high.

According to NAN, filling stations within Lagos metropolis, as at 3pm on Monday had yet to comply with the directive. It said that except for the NNPC Mega Station in Falomo, Ikoyi, all other stations visited sold petrol at N 97 per litre.

The managers of the filling stations said they had old stocks and that it was difficult to adjust to N87 from N97. Others agreed to adjust but said they could not do so because their engineers had yet to arrive from their head offices to effect the change.

Christy Okonebo, station manager at Total Filling Station, Costain, said the station received 66,000 litres of petrol two days ago at N97 per litre.

“The reduction in price was announced yesterday (January 18) night. We have paid for this product since four days ago. If we adjust the price to N87 from N97, who will pay for the difference?” she queried.

Okonebo said that if the management changed the pump price,the station would lose N660, 000. She added that the station would be made when its engineers from the head office get to the station.

Samson Ademola, a supervisor at Conoil Filling Station in Ojuelegba, said the station would continue selling at N97 per litre until it receives new stock.

In Ikorodu, many of the filling stations visited were selling at the old pump price of N97 per litre, while a few others promised to adjust their pump later.

Mr Felix Idowu, a motorist, who bought fuel at Conoil, Onipan, said he was not happy buying at N97 per litre but that there was nothing he could do to change the situation.

Also, at all the filling stations visited by TheCable, the commodity was sold at the old price.

At the two NNPC filling stations on Kudirat Abiola Way, Oregun, attendants said the adjustment would “soon be made”.

Total and ConOil filling stations in the neighbourhood also sold at the same rate.

Sensing that that filling stations may not want to comply, the Department of Petroleum Resources (DPR) has threatened to sanction those who fail to make the adjustment as directed by the federal government.

Chioma Njoku, DPR head of operations, Lagos zone, said the department had begun the monitoring of filling stations to enforce adherence to the directive.

“DPR will ensure that the new price regime stated by the government is complied with and any filling station found wanting will be sanctioned,” she said.

“We have commenced full operational check at most filing stations in Lagos to ensure that they adjust to N87 per litre.”

Diezani announced the reduction on Sunday, citing volatility in the price of petroleum product, particularly crude oil over the last few months .

“This has invariably meant that the price of the product in Nigeria has also been greatly impacted,” she said.

“It is as a result of this under the approval and directive of Mr. President and in line with Section 6 Clause 1 of the Petroleum Act‎, that it is my responsibility as the minister of petroleum to announce that there will be a reduction in the pump price of petroleum (premium motor spirit) by N10. Therefore the reduction will be from N97 per liter to N87 per liter effective as of mid-night Sunday the 18th of January 2015.”