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FG discards price bands, begins full deregulation

Discussion in 'Politics' started by Melvin, Sep 9, 2020.

  1. Melvin

    Melvin Active Member

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    According to information disclosed through the Petroleum Products Pricing Regulatory Agency, the Federal government will no longer regulate price bands for the sale of the premium motor spirit popularly called petrol noting that the downstream arm of the oil and gas sector had been fully deregulated.

    During the briefing held at the PPPRA headquater in Abuja, the agency's Executive secretary, Abdulkablir Saidu responsed to some questions asked in the Journalist questioning session of the briefing stating that, going foward, PMS price would be determined by the forces of demand and supply and the international cost of crude oil.

    However, Saidu also noted that the agency was obligated to ensure that oil marketers don't profiteer, as every dealer of fuel was, henceforth free to souce for product and fix their price.
     
    #1 Melvin, Sep 9, 2020
    Last edited: Sep 9, 2020
  2. Melvin

    Melvin Active Member

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    Here is a statement issued by Abdulkadir Saidu during PPPRA briefing in Abuja;

    "This, however, must be in accordance with our code of conduct because as a regulator, it is our duty to protect the consumer and operators must abide by our codes", Saidu said
     
    #2 Melvin, Sep 9, 2020
    Last edited: Sep 10, 2020
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