“No plans to hike petrol price” –Petroleum Products Pricing Regulatory Agency (PPPRA)

Following speculations in various quarters that that the Federal Government was tinkering with the idea of hiking fuel prices, the Executive Secretary, Petroleum Products Pricing Regulatory Agency (PPPRA), Abdulkadir Saidu on Tuesday said there was no such plan, reaffirming that the retail price of petrol was still N145/litre on the maximum.

Saidu in a statement also assured Nigerians of PPPRA’s total commitment to service delivery and uninterrupted petroleum products supply and distribution especially during the festive period and beyond.

According to him, the agency would continue to carry out its oversight function of monitoring fuel loading and supply exercise in depots and all the filling stations across the country, to ensure adherence to the regulated price and ensure there are no sharp practices at retail outlets.

He specifically warned that adequate sanctions await any erring filling stations found wanting.

He therefore, appealed to motorists and other PMS consumers to desist from panic-buying, as PPPRA was working hard with other agencies of government to ensure that there is no short fall in the supply and distribution of petroleum products nationwide.

He further commended the petroleum oil marketers in the country for embracing dialogue with Federal Government to resolve the issues arising from payment of the outstanding fuel subsidy claims, noting that embarking on strike was not the best option to address any industrial dispute, irrespective of the circumstances, due to the scathing multiplier effects on the country.

The PPPRA boss therefore appealed to the leadership of the oil marketers association to cooperate with the Federal Government to find a workable solution to the issue emanating from the payment of subsidy arrears.

He further assured the oil marketers of PPPRA’s continuous support, cooperation and collaboration at ensuring a conducive industrial climate where the best of the oil and gas sector could be showcased.

He therefore advised marketers to ensure that there is no price distortion in their respective retail outlets.

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