Contrary to reports by a Section of the Nigerian Media, the
Federal Government has not reversed its decision to remove subsidy on Premium
Motor Spirit (PMS), moreso when there is no appropriation for subsidy in the
2016 budget.
The PPPRA wishes to state categorically that 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
wishes to reiterate its commitment to ensuring seamless supply and distribution
of petroleum products in the Country.
No comments:
Post a Comment