(Ecofin Agency) - The Department of Petroleum Resources in Nigeria (DPR) has today warned petroleum products marketers in AkwaIbom against selling petrol above the stipulated N87 pump price or face sanctions.

The Director of DPR Director, Mordecai Ladan (photo) while giving the warning yesterday in Abuja, told petroleum products depots and filling station owners to abstain from products diversion, hoarding, pump manipulation as well as selling products above government approved prices.

“Marketers caught diverting or hoarding products for profiteering shall be sanctioned with a fine of N2 million in addition to having their operating License revoked and prosecuted for national economic sabotage,” Mordecai stated.

According to the Operations Controller in AkwaIbom, AsuquoAntai, there is no reason for marketers to increase pump price as three million litres of petrol were supplied to the state last week.

Antai revealed that some major marketers, including operators of NNPC mega stations, also divert theproduct allocated to them for higher gain. He warned depot managers collaborating with some marketers to shortchange Nigerians, to stop immediately or regret their action.