5 Apr 2016

KINGSLEY IGWE

No going back on fuel subsidy removal – PPPRA


The Federal Government says it has not reversed its decision to remove subsidy on Premium Motor Spirit (PMS) popularly called petrol. In a statement released by the Executive Secretary of the Petroleum Pricing Regulatory Agency (PPPRA), Sotonye Iyoyo, the agency stated that contrary to media reports, what still exists is Price Modulation Policy, through which it considers and reviews pump price of PMS quarterly.


"The Agency also wishes to assure Nigerians that the funds from Over-Recovery in the first quarter (Q1) shall be duly utilized for whatever noticeable imbalance in April 2016 in line with the Price Modulation Principle". While appreciating the patience of Nigerians, the PPPRA reiterated its commitment to ensuring seamless supply and distribution of petroleum products nationwide.

KINGSLEY IGWE

About KINGSLEY IGWE -

I've even gone so far as to verbalize it specifically, time is too precious to waste on trivial arguments and negativities. I'd rather get on to the more fun and rewarding stuff right away!

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