On the news making the rounds that the agency
would increase the pump-price, Iyoyo urged members of the
public to ignore such rumour, as prevailing market
indicators do not support such. Her words: “PPPRA is
resolutely committed to the sustenance of its reform
initiatives, in order to further guarantee adequate supply of
products nationwide. We therefore assure Nigerians of our
total commitment to service delivery, in the quest to deliver
on our mandate to the people of Nigeria.” She also called on
motorists to desist from panic buying as PPPRA is working
hard with other sister-organizations to ensure that the
current supply and distribution challenges are resolved
within the coming days
The Petroleum Products Pricing Regulatory Agency
(PPPRA) has reiterated that the benchmark retail price of
premium motor spirit (PMS) will remain at N86.00 for the
Nigerian National Petroleum Corporation (NNPC) and
N86.50 for the other marketing companies. The agency also
announced that the Minister of State, Petroleum Resources,
Dr. Emmanuel Ibe Kachikwu, has approved the release of
the second quarter allocations for the supply of premium
motor spirit, commonly known as petrol. In a statement
signed by the Manager Corporate Services, Lanre Oladele,
the agency said NNPC, has 41.73 per cent of the total
allocation, while the rest of the oil marketing companies got
a total allocation of 58.27 per cent. “The agency is retaining
the retail prices of N86.00 for the NNPC, and N86.50 for the
other marketing companies. “The pump price of household
kerosene (HHK) also remains unchanged from what it was
in the last quarter. Therefore, marketers are advised to
ensure that there is no price distortion in their respective
retail outlets,” Oladele said. He said PPPRA would,
however, continue to monitor the global oil market
performance, and come up, at the appropriate time, with
reasonable changes consistent with the newly adopted
price modulation principles. The PPPRA Acting Executive
Secretary, Sotonye Iyoyo, therefore, appealed to all depot
owners to strictly adhere to the prevailing truck-out policy
put in place by the agency, to ensure that petroleum
products get to their designated retail outlets across the
country.
She also warned that adequate sanctions would be
meted out to any depot-owner found to be hoarding
products.
would increase the pump-price, Iyoyo urged members of the
public to ignore such rumour, as prevailing market
indicators do not support such. Her words: “PPPRA is
resolutely committed to the sustenance of its reform
initiatives, in order to further guarantee adequate supply of
products nationwide. We therefore assure Nigerians of our
total commitment to service delivery, in the quest to deliver
on our mandate to the people of Nigeria.” She also called on
motorists to desist from panic buying as PPPRA is working
hard with other sister-organizations to ensure that the
current supply and distribution challenges are resolved
within the coming days
The Petroleum Products Pricing Regulatory Agency
(PPPRA) has reiterated that the benchmark retail price of
premium motor spirit (PMS) will remain at N86.00 for the
Nigerian National Petroleum Corporation (NNPC) and
N86.50 for the other marketing companies. The agency also
announced that the Minister of State, Petroleum Resources,
Dr. Emmanuel Ibe Kachikwu, has approved the release of
the second quarter allocations for the supply of premium
motor spirit, commonly known as petrol. In a statement
signed by the Manager Corporate Services, Lanre Oladele,
the agency said NNPC, has 41.73 per cent of the total
allocation, while the rest of the oil marketing companies got
a total allocation of 58.27 per cent. “The agency is retaining
the retail prices of N86.00 for the NNPC, and N86.50 for the
other marketing companies. “The pump price of household
kerosene (HHK) also remains unchanged from what it was
in the last quarter. Therefore, marketers are advised to
ensure that there is no price distortion in their respective
retail outlets,” Oladele said. He said PPPRA would,
however, continue to monitor the global oil market
performance, and come up, at the appropriate time, with
reasonable changes consistent with the newly adopted
price modulation principles. The PPPRA Acting Executive
Secretary, Sotonye Iyoyo, therefore, appealed to all depot
owners to strictly adhere to the prevailing truck-out policy
put in place by the agency, to ensure that petroleum
products get to their designated retail outlets across the
country.
meted out to any depot-owner found to be hoarding
products.
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