Fuel Scarcity Hits Osun As Tasksforce Cracks Down on Fuel Hoarding, Threatens Sanctions


Apr 28, 2024

In a bid to tackle the escalating fuel crisis in Osun State, the Taskforce on Petroleum Price Monitoring has issued a stern warning to petrol station owners across the state against hoarding petroleum products. The move aims to prevent the creation of artificial scarcity, which has been contributing to a significant hike in fuel prices.

According to a statement released by the Chairman of the task force and the State Governor’s chief of staff, Kazeem Akinleye, on Sunday in Osogbo, the warning comes amidst rising pump prices of Premium Motor Spirit (PMS), commonly known as petrol, which have soared to between ₦700 and ₦750 per litre in some states, coupled with the re-emergence of long queues at filling stations.

“Our surveillance over the past three days in major towns and the state capital has revealed a deliberate hoarding of fuel by certain stations, aimed at creating an artificial scarcity,” Akinleye explained. He added that the task force has compiled a list of stations found to be directly involved in these malpractices, and warned that any further violation would attract severe penalties, including revocation of operating licenses and prosecution.

The task force has directed those implicated to immediately commence the distribution of their stocked petrol to the public, and has also ordered a comprehensive audit of all fuel stations in the state to ensure compliance with established regulations.

Akinleye emphasized the need for marketers to adopt a more humanitarian approach to the pricing of petroleum products, especially considering the prevailing economic hardships faced by citizens. “We understand that fuel marketers need to make a profit, but not at the expense of the suffering masses,” he said.

The task force has promised to intensify its monitoring activities to prevent further exploitation and ensure that fuel is available and affordable for all residents of the state. This includes regular spot checks on fuel stations, enforcement of price regulations, and engagement with stakeholders to address any issues that may arise.

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