By FESTUS OKOROMADU, Abuja
The Petroleum Products Pricing Regulatory Agency (PPPRA) has debunked the purported attempts to increase the pump price of Premium Motor Spirit (PMS) popular known as petrol by N5.00 per litre, describing mere rumour.
The executive secretary of PPPRA, Abdukadir U. Saidu, in a statement issued in Abuja, yesterday, said the agency has observed the growing speculation on a purported imminent increase in the pump price of petrol.
Refuting the proposed increase, he stated that, “The Agency hereby wishes to dispel this rumour and assuage the concerns of Nigerians.
The statement added that as “the Agency of Government saddled with the responsibility of regulating petroleum products pricing, supply and distribution, we want to assure the Nigerian public that the subsisting pump price cap for PMS remains N145 per litre, across the country and as such, Nigerians should please ignore the speculation on price increase.”
The statement which was issued by the agency’s spokesperson, Lanre Oladele, added that, “We again wish to assure all Nigerians that pursuant to its mandate, the PPPRA shall not fail in its efforts geared towards ensuring products availability, and at regulated price, for the benefit of all.”