x

BREAKING: FG to begins full deregulation of PMS prices at Fuel Stations

The Federal Government is no more going to be releasing guiding price bands for the sale of Premium Motor Spirit, popularly called petrol, at filling stations.

It disclosed this in Abuja through the Petroleum Products Pricing Regulatory Agency, adding that based on this, the downstream arm of the oil and gas sector had been fully deregulated.

Responding to questions from journalists during a briefing at the headquarters of PPPRA, the agency’s Executive Secretary, Abdulkadir Saidu, stated that going forward, PMS price would be determined by the forces of demand and supply and the international cost of crude oil.

He, however, noted that the role of the agency would be to ensure that oil marketers do not profiteer, as every petrol dealer was, henceforth free to source for product and fix their price.

“This, however, must be in accordance with our code of conduct because as a regulator, it is our duty to protect the consumer and operators must abide by our codes,” Saidu stated.

The PPPRA boss, who was represented by the agency’s General Manager, Administration and Human Resources, Victor Shidok, also confirmed Sunday PUNCH’s report that oil marketers were not currently importing petrol because of the scarcity of foreign exchange.

Details later…

Hot this week

Editors Urge Government To Create Safe, Enabling Environment For Journalists

· Ask security agents to find missing Vanguard journalist As...

EXCLUSIVE: Buhari orders probe of Isa Funtua, AMCON over keystone and Etisalat

Following the controversy generated by the leading opposition party,...

6 Signs your boyfriend thinks you are ugly -Take note of No. 2

They say there are three kinds of people; the...

2023: South-East, Middle Belt Forum Endorses Peter Obi

The South-East and Middle Belt Forum has endorsed the...

Foundation Commences Attitudinal Change Seminar For Police Officers Nationwide

The Foundation for Correction of Moral Decadence (FCMD) has...

FG Commends China for Bolstering Nigeria’s Defense Capabilities

The Federal Government has lauded the People’s Republic of...

Chinese Embassy in Nigeria Celebrates 98th Anniversary of the PLA

The Chinese Embassy in Nigeria hosted a reception on...

WASH: A’Ibom tasks LGAs on service delivery in communities

By Emeka Samuel, Uyo Local Councils in Akwa Ibom have...

Bayelsa Deputy Governor Urges Churches to End Rivalry, Focus on Unity

By Amgbare Ekaunkumo, Yenagoa Bayelsa State Deputy Governor, Senator Lawrence...

Benue, Plateau, Nasarawa Govts Strengthen Collaboration to Tackle Humanitarian Challenges

By Isaac Kertyo, Makurdi The governments of Benue, Plateau, and...

Buhari’s Second Tenure Toughest for Southern Kaduna People – Apostle Kure

…Says communities suffered violence, persecution, and marginalisation By Achadu Gabriel,...
spot_img

Related Articles

Popular Categories

spot_imgspot_img