FLASH| FG Has Not Restored Subsidy For Petrol – PPPRA

by on April 5, 2016
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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