FLASH| FG Has Not Restored Subsidy For Petrol – PPPRA
The Petroleum Products Pricing Regulatory Agency (PPPRA) on Monday said the Federal Government has not restored subsidy on Premium Motor Spirit (PMS).
The Acting Executive Secretary of PPPRA, Mrs. Sotonye Iyoyo in a statement in Abuja said the agency is continuing with government’s policy of price modulation for every quarter of the year.
PPPRA had last weekend retained petrol price at N86 per litre for NNPC filling stations and N86.50 for filling stations that are privately operated for the months of April to June.
Iyoyo said “contrary to reports by a section of the Nigerian media, the Federal Government has not reversed its decision to remove subsidy on Premium Motor Spirit (PMS), moreso when there is no appropriation for subsidy in the 2016 budget.
“The PPPRA wishes to state categorically that what still exists is Price Modulation Policy, through which it considers and reviews pump price of PMS quarterly.
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