• Advertise
  • Submit a Story
  • iReport
  • Contact
Thursday, April 22, 2021
No Result
View All Result
Niger Delta Connect
  • Home
  • News
    • Niger Delta News
      • Abia State News
      • Akwa Ibom State News
      • Bayelsa State News
      • Cross Rivers State News
      • Delta State News
      • Edo State News
      • Imo State News
      • Ondo State News
      • Rivers State News
    • Nigerian News
    • World News
    • Metro
  • Politics
  • Business
  • Opinions
    • Editorial
    • Columnists
    • Interviews
    • Special Features
  • Sports
    • Football
  • More Topics
    • Entertainment
    • Law
    • Security
    • Health
    • Science & Technology
    • Lifestyle
    • Fashion
    • Food & Fitness
    • Travel
    • Tori for Town
    • Shenkes
  • COVID-19
  • #EndSARS
  • Home
  • News
    • Niger Delta News
      • Abia State News
      • Akwa Ibom State News
      • Bayelsa State News
      • Cross Rivers State News
      • Delta State News
      • Edo State News
      • Imo State News
      • Ondo State News
      • Rivers State News
    • Nigerian News
    • World News
    • Metro
  • Politics
  • Business
  • Opinions
    • Editorial
    • Columnists
    • Interviews
    • Special Features
  • Sports
    • Football
  • More Topics
    • Entertainment
    • Law
    • Security
    • Health
    • Science & Technology
    • Lifestyle
    • Fashion
    • Food & Fitness
    • Travel
    • Tori for Town
    • Shenkes
  • COVID-19
  • #EndSARS
No Result
View All Result
No Result
View All Result
Home Oil & Gas

We’ve not increased fuel price — PPPRA

by Tariere Alaibe
1 month ago
in Oil & Gas
Share on WhatsappShare on FacebookShare on TwitterShare on Telegram
Adverts Price list

By Víctor Graham

The Petroleum Products Pricing Regulatory Agency (PPPRA) on Friday denied increasing the pump price of Premium Motor Spirit (PMS) otherwise known as petrol.

The agency said the guiding prices posted on its website was only indicative of current market trends and do not translate to any increase in the product and therefore asked Nigerians not to panic.

Executive Secretary of the agency, Abdulkadir Saidu in a statement in Abuja, said media reports on the guiding prices was misconstrued and thus misleading.

It assured of adequate products supply and pledged to continue to perform its statutory function in ensuring that the downstream sector remains vibrant as well as support both government and members of the public.

The statement read: “The attention of the Petroleum Products Pricing Regulatory Agency (PPPRA) has been drawn to speculations about the increased pump price of PMS.

“The PPPRA by this release wishes to state clearly that the Guiding Prices posted on our website was only indicative of current market trends and do not translate to any increase in pump price of PMS. However, publications by the media to this effect have been misconstrued and thus misleading.

“The Agency wishes to remind the general public of the introduction of the Market Based Pricing Regime for PMS Regulation 2020 as gazetted by the Federal Government. Based on this regulation, prices are expected to be determined by market realities in line with the dictates of market forces.

“One of the conditions for the implementation of the Market-Based Pricing Regime for PMS Regulation 2020 is the monthly release of Guiding Price to reflect current market fundamentals.

“The PPPRA in line with its mandate to maintain constant surveillance over all key indices relevant to pricing policy, monitors market trends on a daily basis to determine Guiding Prices.

“The Agency is not unaware of the challenges with the supply of PMS due to some concerns leading NNPC to be the sole importer of PMS. PPPRA is also mindful of the current discussion going on between the government and the Organised Labour on the deregulation policy. While consultation with relevant stakeholders is ongoing, PPPRA does not fix or announce prices and therefore there is no price increase. The current PMS price is being maintained while consultations are being concluded.

“Even though market fundamentals for PMS in the past few months indicated upward price trends, the pump price has remained the same and we are currently monitoring the situation across retail outlets nationwide.

“While assuring the public of adequate products supply as the average PMS Day Sufficiency as of March 11, 2021 is over 35 days, the PPPRA pledges to continue to perform its statutory function in ensuring that the downstream sector remains vibrant as well as support both government and members of the public”.

Tags: PMSPPPRA
SendShareTweetShare

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

Latest Stories

Buddhist monk beheads himself with hope to be reincarnated as higher spiritual being
9 hours ago
Couple kissing on a bridge metal railing fall off to death
9 hours ago
How to Treat a Woman Right: 5 Ways to Make Her Want to Stay
10 hours ago
Reigning Mrs World resigns, runner up takes over
10 hours ago
Tiny, Complex DNA Robots Designed in Minutes Instead of Days
13 hours ago
NYSC, Ned Nwoko Foundation Join Forces on Malaria Control
13 hours ago
IGP Baba orders Immediate withdrawal of police officers from EFCC
15 hours ago
Re-Emergence of fuel queues across the country will disappear very soon – NNPC
15 hours ago




Recommended

Could Femi Fani-Kayode be thinking of dumping PDP?

Could Femi Fani-Kayode be thinking of dumping PDP?

2 months ago
Gov. Diri charges Bayelsa Permanent Secretaries to embrace agriculture

Gov. Diri charges Bayelsa Permanent Secretaries to embrace agriculture

2 months ago
WAEC examination date finally out

WAEC examination date finally out

2 weeks ago
Frank Edoho replies fans who chose him to replace Ebuka as BBNaija TV host

Frank Edoho replies fans who chose him to replace Ebuka as BBNaija TV host

4 weeks ago

Follow Us

  • 23.2k Fans

Most Popular

Gov. Douye Diri

Tombia traders, transport operators get final marching order to quit

2 hours ago
Diri hasn’t abandoned grassroots sports- Gwegwe

Diri hasn’t abandoned grassroots sports- Gwegwe

6 hours ago
No regrets signing Cristiano Ronaldo — Juventus President, Andrea Agnelli

No regrets signing Cristiano Ronaldo — Juventus President, Andrea Agnelli

6 hours ago




  • Home
  • About Us
  • Advertise
  • Submit a Story
  • Privacy Policy
  • Terms and conditions
  • Contact
Menu
  • Home
  • About Us
  • Advertise
  • Submit a Story
  • Privacy Policy
  • Terms and conditions
  • Contact
iReport

Follow Us

Facebook-f
Twitter
Youtube
Instagram

© 2020 All rights Reserved. NIGER DELTA CONNECT

No Result
View All Result
  • Home
  • News
    • Law
  • Niger Delta News
    • Abia State News
    • Akwa Ibom State News
    • Bayelsa State News
    • Cross Rivers State News
    • Delta State News
    • Edo State News
    • Imo State News
    • Ondo State News
    • Rivers State News
  • Politics
  • World News
  • Opinions
    • Editorial
    • Special Features
  • Business
  • Entertainment
    • Movie
    • Music
    • Comedy
  • Science & Technology
  • Sports
  • Lifestyle
    • Health
  • COVID-19
  • Special Features
  • Diaspora
  • Tori for Town
  • Shenkes
  • #EndSARS
  • Tori for Town
  • Submit a Story
  • Pictorial Journal
  • Advertise

© NigerDeltaConnect2020

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.