The Edo State Government has threatened to revoke the landed property of any fuel marketer caught hoarding petroleum products in the state.
It was reliably gathered that following the pronouncement by President Bola Ahmed Tinubu that the subsidy paid by the federal government on imported petroleum products would cease henceforth, many petrol dealers in the state stopped sales of the product, with a view to hiking prices.
The government, in a statement by Osaigbovo Iyoha, the Chief of Staff to Governor Godwin Obaseki, warned petrol dealers against hoarding of petroleum products, with a view to creating artificial scarcity and hiking of prices of the products.
“The attention of the Edo State Government has been drawn to the unscrupulous attempt by petrol dealers in the state to hoard fuel and create artificial scarcity and price hike.
“As a responsible government that cares for her citizens, we shall resist this economic sabotage by every legal means possible.
“To this end, all petrol stations are ordered to immediately resume sales of the products to Edo people or risk immediate closure, and possible revocation of their property to enable others who want to do legitimate and respectful business in Edo State come and invest,” the statement said.
It added that the government cannot continue to allow extortion of Edo people in whatever guise, warning that “a word is enough for the wise.”