The Petroleum Products Pricing
Regulatory Agency, PPPRA, said Nigerians should ignore rumours of an impending
hike in the price of Premium Motor Spirit, PMS, also known as petrol.
The PPPRA, in a statement signed
by its Executive Secretary, Mr. Abdukadir Saidu, on Tuesday in Abuja disclosed
that the price of PMS remained N145 per litre nationwide’
He said that there was no attempt
to hike the price of the commodity by N5 per litre.
“The PPPRA has observed the growing speculation on a purported imminent increase in the pump price of Premium Motor Spirit (PMS) by N5.00 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, he said .
He assured that the PPPRA would
not fail in its efforts to ensure products availability, and at regulated
price, for the benefit of all.
The rumour of an impending hike
in the price of PMS was triggered by a Bill in the Senate which is seeking to
introduce a fuel levy of N5, chargeable per litre on any volume of petrol and
diesel products imported into Nigeria and on locally refined petroleum
products.
This was in addition to a number
of taxes and levies which the Bill is proposing to be used to fund the proposed
National Roads Fund.
However, Senate President, Mr.
Bukola Saraki, had clarified that the proposed National Road Fund Bill
recommended by the Senate Committee on Works would not lead to any increase in
the current pump price of fuel.
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