Use this space to put some text. Update this text in HTML

468x60 banner ad

Blog Archive

Copyright 2016 @ Breaking News. Powered by Blogger.

Subscribe To Our Newsletter

for advert placement call 08024760741 and send an email to lekanbabarinde@gmail.com

Tuesday, April 5, 2016

No going back on fuel subsidy removal – PPPRA

The Federal Government says it has not reversed its decision to remove subsidy on Premium Motor Spirit (PMS) popularly called petrol. In a statement released by the Executive Secretary of the Petroleum Pricing Regulatory Agency (PPPRA), Sotonye Iyoyo, the agency stated that contrary to media reports, what still exists is Price Modulation Policy, through which it considers and reviews pump price of PMS quarterly.
"The Agency also wishes to assure Nigerians that the funds from Over-Recovery in the first quarter (Q1) shall be duly utilized for whatever noticeable imbalance in April 2016 in line with the Price Modulation Principle". While appreciating the patience of Nigerians, the PPPRA reiterated its commitment to ensuring seamless supply and distribution of petroleum products nationwide.

No comments:

Post a Comment

Message Sent