PPPRA quells rumours of petrol hike

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In response to speculation from various quarters and due to usual manner of hiking prices of fuel, 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 stillN145/litre on the maximum

Saidu also assured Nigerians of 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 therefore advised marketers to ensure that there is no price distortion in their respective retail outlets.

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