NMDPRA promises regular fuel supply amid subsidy removal
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says it is working with NNPC and other stakeholders to guarantee a smooth transition following the fuel subsidy removal.
President Bola Tinubu, in his inaugural speech on Monday, said the fuel subsidy regime had ended with the commencement of his administration.
NMDPRA stated this on Tuesday in a statement signed by its spokesman Kimchi Apollo to address concerns regarding the subsidy removal.
The agency said it was working to avoid disruptions in the supply of Premium Motor Spirit (PMS), also known as petrol, and ensure that consumers were not short-changed in any form, assuring ample supply of petrol to meet demand and that the authority had taken necessary steps to ensure that distribution channels remained uninterrupted and fuel readily available at all filling stations nationwide.
The statement urged Nigerians not to panic over the subsidy removal as the authority had ensured the availability of petrol nationwide.
“Contrary to speculations and concerns, the announcement is in line with the Petroleum Industry Act (PIA 2021), which provides for total deregulation of the petroleum downstream sector to drive investment and growth,” the NMDPRA stated. “We, therefore, call on Nigerians to remain calm and resist the urge to stockpile as it poses a significant safety hazard. The NMDPRA reassures all Nigerians that the removal of subsidy on PMS is a step towards building a more sustainable and prosperous future for our nation.”
It added, “We will continue to monitor activities and implement necessary measures to enhance transparency and accountability in the petroleum downstream sector.”
(NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
Abuja
Xenophobic Attacks: Ghana govt defers Ramaphosa’s planned state visit
”We sent them a communication indicating that it would be best to defer the visit in view of the present climate around xenophobia,” Mr Ofosu said.
Abuja
ICPC arrests El-Rufai’s doctor over alleged abuse of court approved medical visit
Mr Odey said the doctor was arrested because he allegedly made false statements regarding a court-approved medical visit.
World
UNHRC adopts first-ever resolution linking human rights, neglected diseases
The landmark move is expected to strengthen global efforts to eliminate the diseases and improve the lives of more than one billion affected people.
States
Bauchi police nab suspected bull thief
The suspect allegedly stole a bull valued at ₦800,000.
Economy
NCAA funding cut can weaken aviation safety, says NAAPE
The association said the proposed amendment to the revenue sharing formula of the aviation sector’s five per cent ticket sales charge has far-reaching implications.
Heading 2
Senate won’t interfere in PFIPC controversy: Senator Adaramodu
Mr Adaramodu said the upper chamber had yet to receive any petition from any of the parties or concerned Nigerians to elicit its intervention.
