Business
NNPC, others defy DPR’s directive, sell petrol above N100/ltr
Despite warnings by the Department of Petroleum Resources, DPR, to marketers to desist from arbitrary pump price increase of fuel, a Nigerian National Petroleum Corporation, NNPC, outlet at Amuwo, Festac area of Lagos State is selling petrol at N100 per litre.
The NNPC outlet joined others, including Conoil, Oregun Road; Total, Amukoko Alaba; Mobil, Festac; Capital Oil, Ago, Olufemi Arowolo, Iyana-Iba and a host of others, which have stock of the scarce commodity, also sold above regulated price of N87 per litre.
These outlets are selling petrol at between N100 and N120 per litre, depending on the outlet and location.
The petroleum industry regulator, DPR, at an emergency stakeholders’ meeting in Lagos on Wednesday, warned depot operators and marketers against arbitrary increase in the ex-depot and pump prices of petrol, by taking advantage of the current scarcity situation.
DPR had cautioned operators still engaged in the practice of selling petrol and kerosene above government stipulated prices as well as “those who engage in the acts of hoarding of these products to desist from it in the interest of the public, the economy and your petroleum business.”
Acting Director, DPR, Mr. Danteni Ladan, who issued the warning, said that the regulator will no longer tolerate a situation where the supply of petrol was dictated by dealers and marketers’ private interests to the detriment of the Nigerians.
He said DPR will sanction such operators, including the withdrawal of licence of any found selling above the recommended price prescribed by the Federal Government.
On PSF
He further said: “In the last few months, the nation has experienced epileptic supply of fuel, which has reflected in the sale of this product above official pump price. We have evidence to buttress this.
“We find this trend unacceptable given that marketers with whom we have constantly interacted have benefited from the Petroleum Support Fund, PSF.
“This PSF has enabled marketers to operate their businesses at a level that should guarantee constant and uninterrupted supply of products. Our interaction with you has been quite cordial and collaborative in ensuring uninterrupted supply of petroleum in particular to the Nigerian public at government-approved price.”
However, NNPC’s spokesman, Mr. Ohi Alegbe, neither picked his call nor responded to a text message to his phone line on the development. But the corporation’s Retail Department promised to close down such outlets found selling above the prescribed pump price.
NNPC, MOMAN helpless
The Major Oil Marketers Association of Nigeria, MOMAN, said its members were doing their best to make the product available at the regulated price, but cannot monitor all activities in some outlets, particularly those in the outskirts.
Alegbe, responding to another text message on efforts being made to ease the scarcity situation, had asked oil marketers to support NNPC’s efforts by also importing petroleum products, since allocations for third quarter had been approved.
He had asked: “Why are the marketers not bringing in products when they already have the third quarter allocations? They should not rely on NNPC’s so-called little stock to go round.
“NNPC is only entitled to supply 50 percent of the products. The other 50 percent are meant to be supplied by oil marketers. Where is their supply?”
While calling on members of the public to refrain from panic buying, he said the corporation had petrol stock in its coastal depots in Port Harcourt, Warri, and Calabar, besides the stock it holds in the national strategic reserves.
MOMAN, while waiting on the Federal Government to fulfil its promise to pay oil marketers for their outstanding claims, also criticised Alegbe for his comments.
According to the MOMAN scribe, Mr. Obafemi Olawore, “Alegbe is not an importer and as such does not understand the dynamics of the market.”
vanguard
Can We Have More Bankers Like Victoria Mulero? An epitome of ‘omoluabi’
In February of this year, I needed to open a new bank account for salary purposes, as required by the management of the new company I had just joined.
I considered First Bank, Access Bank, and Sterling Bank. After some thought, I chose Sterling Bank—not because I found them superior—but because I believed they had fewer customers, which I hoped would save me from long queues and unnecessary delays.
I visited the Sterling Bank branch at Akowonjo to open the account. Unfortunately, the staff member who attended to me didn’t inspire confidence. She appeared distracted—smiling at her phone, clearly engrossed in a private chat—far from the level of professionalism one would expect in a bank setting. I had a feeling this would lead to problems down the line.
When my first salary was paid into the account, my suspicion was confirmed. Sterling Bank restricted access to my funds—I couldn’t transfer money or make withdrawals at the counter. I visited their Fatai Atere branch at Ladipo, Mushin to complain, where I was informed that the account opened for me was a “Kaikai” account—a type I had never heard of. Apparently, this account type is meant for individuals who lack the required documents during account creation. But I had submitted all necessary documents, so why was such an account opened for me?
At the Fatai Atere branch, I was attended to by a remarkable banker named Victoria Mulero. She requested my NIN, which I didn’t have on me at the time. Rather than send me back home, she asked if I had a digital copy. I did, and she graciously gave me her email address so I could forward it to her. With that, she resolved the issue promptly and professionally.
However, the following month, in March, the same restriction happened again. I returned to the Fatai Atere branch, and once again, Victoria Mulero handled my complaint with efficiency and kindness, resolving it without delay.
I hoped the matter was finally settled, but when my April salary arrived, the restriction was imposed yet again. This time, I was beyond frustrated and ready to replace Sterling Bank as my salary account. Still, I visited the Fatai Atere branch one last time. Once more, Victoria Mulero resolved the issue with grace and determination.
This write-up is a tribute to Victoria Mulero of Sterling Bank, Fatai Atere branch. She is a rare gem—respectful, diligent, and genuinely customer-focused. She went above and beyond, following up with the Akowonjo branch through calls and emails until the matter was fully resolved. She handled every situation with patience and empathy, treating the job as if the bank belonged to her family.
To be honest, I’ve had unpleasant experiences with many bankers, especially female staff. Too often, they carry personal frustrations into the banking hall and take it out on customers. But Victoria is different. She exemplifies what true customer service should be.
We may not all be the same, but treating people with respect and kindness is a skill that can be learned—and Victoria clearly has. Let’s celebrate her for being a model professional and a beacon of hope in an industry that too often lacks empathy.
Without any fear of contradiction, I say boldly that Victoria Mulero is a good ambassador of Sterling Bank and her parents too deserve encomium for raising a well trained daughter and impacting an attitude of ‘ omoluabi’ in her. We need more of Victoria Mulero in our banking industry.
Seun Jacob Ogunbiyi
Known as Olùkọ́, the therapeutic writer and Lagos based journalist
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