FG has no plan to increase fuel pump price – NMDPRA

FG has no plan to increase fuel pump price – NMDPRA

By Emmanuella Anokam, Abuja.

 

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says the Federal Government has no intention of increasing the pump price of Premium Motor Spirit (PMS) during the coming festive period.

 

The General Manager, Corporate Communications, NMDPRA, Mr Kimchi Apollo said this via an advisory which addressed speculations on the increase in price and availability of PMS.

 

He said that the Nigerian National Petroleum Corporation Limited (NNPCL) had imported PMS, with current stock levels sufficient to last for 34 days.

 

“Consequently, marketers and the general public are advised to avoid panic buying, diversion of products and hoarding.

 

“In keeping with the Authority’s responsibilities, as outlined in the Petroleum Industry Act (PIA), the Authority assures the public that it would continue to monitor the supply and distribution of petroleum products nationwide, especially during this holiday season,” he said.

 

At present, the pump price of PMS ranges between N178 and N180 per litre in the Abuja city-centre, while the price at the retail stations in other parts of the Federal Capital Territory (FCT) is between N200 to N250 per litre.

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