The Executive Secretary Secretary, Petroleum Products Pricing Regulatory Agency (PPPRA), Abdulkadir Saidu on Tuesday refuted the growing speculation on the purported imminent price increase in the pump price of Premium Motor Spirit (Petrol), noting that the retail price of Premium Motor Spirit (Petrol) remains at the subsisting price cap of N145 per litre.
According to him, in a statement issued to reporters in Abuja, marketers should ensure that there is no price distortion in their respective retail outlets.
The PPPRA, he said, shall continue to carry out its oversight function of monitoring exercise in depots and in all the filling stations across the country, to ensure adherence to the regulated price and to nib in the bud other forms of sharp practices at retail outlets.
He specifically warned that adequate sanctions await any erring filling stations found wanting.
The Executive Secretary 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 is not always the best option to address any industrial dispute, irrespective of the circumstances because the multiplier effects is always too much to bear.
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 arears. 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.
Mr. Saidu also assured Nigerians of PPPRA total commitment to service delivery and uninterrupted petroleum products supply and distribution especially during this festive period and beyond.
He therefore, appealed to motorists and other PMS consumers to desist from panic-buying, as PPPRA is working hard with other Agencies of government to ensure that there is no short fall in the supply and distribution of petroleum products nationwide.