FEDERAL GOVERNMENT WARNED OIL MARKETERS AGAINST NON-COMPLIANCE WITH THE PROVISION OF THE PPCFWR THROUGH PPPRA
Written by miebaka ikiriko on January 7, 2021
The Federal Government, through the Petroleum Product Pricing Regulatory Agency, has warned Oil Marketers and other Operators in the downstream sector against non-compliance with the provisions of the PetroleumProducts Commercial Frame Work Regulations.
The PPPRA, in a statement said failure to comply with the provisions would attract sanctions, including suspension from operations.
It said Downstream Operators including Refiners, Marketers, Depot Owners, Wholesalers, Retailers, Traders wishing to carry out their business of Petroeum Products in Nigeria should submit expression of interest together with all relevant documents required for registration with the Agency.
According to PPPRA, any Company registerd and captured in its database wishing to supply Petroleum Products into the domestic Market must apply to the agency for quantity notification.
The Agency also said submission of forged vessel and other documents by any operator would lead to suspension from operation for a period of three months and the matter referred to the appropriate government agency for investigation and prosecution adding that a re-admission fee of 5Million Naira would be paid by the erring operator.