Standup9ja: Nigeria, No Plan to Hike Fuel Price, Says Agency
The Federal Government on Tuesday urged Nigerians to ignore
speculations making the rounds that it was planning to raise the pump price of
petrol by N5.
Petrol price currently stands at N145 per litre in all filling stations across the country.
At the inception of the present administration, the price
was adjusted from N86.50 per litre to N145 after government removed the subsidy
component of the pricing template.
Although Nigerians have been buying the commodity with much
frown, considering the impact on the price on the cost of transportation and
other commodities, the government claimed it had achieved its objective.
Fuel supply in the country has largely stabilised, as
smuggling of petroleum products across the country's borders have been brought
under control, while the era of fuel scarcity seem to have been brought under
control.
But, speculations have been rife in recent times that plans
were in the offing by government to increase the price by about N5, to N50 per
litre.
The Petroleum Products Pricing Regulatory Agency, PPPRA,
said it had observed the growing speculation on an imminent increase N5.00 per
litre.
While dispelling the rumour, the Agency said it understood
the concerns of Nigerian consumers and would do everything within its capacity
to keep the price the unchanged.
"As the Agency of government saddled with the
responsibility of regulating petroleum products pricing, supply and
distribution, we want to assure the Nigerian public that the subsisting pump
price cap for PMS remains N145 per litre across the country. As such, Nigerians
should please ignore the speculation on price increase," the Executive
Secretary of PPPRA, Abdukadir Saidu, said.
"We again wish to assure all Nigerians that pursuant to
its mandate, the PPPRA shall not fail in its efforts geared towards ensuring
products availability, and at regulated price, for the benefit of all.
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