The Petroleum Products Pricing Regulatory Agency (PPPRA) on Tuesday dispelled speculations that it has increased the pump price of Premium Motor Spirit, popularly known as petrol by N5.
The PPPRA is the authorised agency of the Federal Government that fixes and regulates the prices of petroleum products across the country.
The agency’s Executive Secretary, Mr. Abdukadir Saidu, said in a statement issued in Abuja, “The PPPRA has observed the growing speculation on a purported imminent increase in the pump price of PMS by N5 per litre. The agency hereby wishes to dispel this rumour and assuage the concerns of Nigerians.
“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.
“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 prices, for the benefit of all.”