The Petroleum Products Pricing Regulatory Agency on Tuesday
stated that it did not approve any N5 increase in the pump price of TPremium
Motor Spirit, popularly known as petrol.
The PPPRA is the authorised agency of the Federal Government
that fixes and regulates the prices of petroleum products across the country.
The agency dispelled speculations of an imminent increase in
the price of petrol by N5 per litre and stated that it had not given any such
approval to anybody or group.
Last week, the Senate Committee on Works under the National
Road Fund Establishment Bill, proposed a fuel levy charge of N5 on every litre
of PMS bought at any filling station.
Although the proposal has been condemned by various labour
unions, the PPPRA stated on Tuesday that it was necessary to clear the air on
the matter, considering the growing speculation about an imminent increase in
petrol price.
The agency’s Executive Secretary, Mr. Abdukadir Saidu, said
in a statement issued in Abuja, “The PPPRA has observed the growing speculation
on a purported imminent increase in the pump price of PMS by N5 per litre. The
agency hereby wishes to dispel this rumour and assuage the concerns of
Nigerians.
“As the agency of government saddled with the responsibility
of regulating petroleum products pricing, supply and distribution, we want to
assure the Nigerian public that the subsisting pump price cap for PMS remains
N145 per litre across the country and as such, Nigerians should please ignore
the speculation on price increase.
“We again wish to assure all Nigerians that pursuant to its
mandate, the PPPRA shall not fail in its efforts geared towards ensuring
products’ availability, and at regulated prices, for the benefit of all.”
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