Ekiti Governor warns petrol marketers against hoarding, price hike

The Governor of Ekiti State, Mr. Biodun Oyebanji, has warned filling stations and marketers in the state against hoarding petroleum products or increasing their prices following the announcement of the removal of the petrol subsidy by President Bola Ahmed Tinubu on Monday.

The President said that the subsidy regime was gone and that the Petroleum Industry Act (PIA) 2021, which he recently signed into law, provides for total deregulation of the petroleum downstream sector to attract investment and growth.

The Governor, in a statement issued by his Chief Press Secretary, Yinka Oyebode, urged the marketers to await further directives from the Federal Government on the implementation of the subsidy removal and not to take any action that could cause hardship to the citizens.

He said that the state government would not tolerate any act of hoarding or arbitrary increase in the prices of petroleum products in the state and that any filling station or marketer found culpable would face severe sanctions.

He also invited the leadership of the National Union of Petroleum and Natural Gas Workers (NUPENG) to a meeting in his office by 4 pm today to discuss the issue.

He appealed to the citizens of the state to remain calm and peaceful and not to engage in panic buying or any unruly situation.

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