Fuel: PPPRA dispels rumours of impending price hike

By Musa Adamu
Abuja

The Petroleum Products Pricing Regulatory Agency (PPPRA), has dispels rumours of impending pump price hike of the premium motor spirit (PMS) also known as petroleum, urging the public to ignore such rumour, as prevailing market indicators do not support such.

Releasing the second quarter (Q2) allocations for the supply PMS,  the acting Executive Secretary of the agency, said PPPRA was resolutely committed to the sustenance of its reform initiatives, in order to further guarantee adequate supply of products nationwide.
She said: “We therefore assure Nigerians of our total commitment to service delivery, in the quest to delivering on our mandate to the people of Nigeria.”

She also called on motorists to desist from panic-buying, as PPPRA was working with other sister organisations to ensure that the current supply and distribution challenges were resolved within the coming days.
In releasing the Q2 allocations the Nigerian National Petroleum Corporation (NNPC) got 41.73%, while the rest of the oil marketing companies got a total allocation of 58.27%.
According to Mrs Iyoyo, the agency is retaining the retail prices of N86.00 for the NNPC, and N86.50 for the other marketing companies.