PPPRA

President of the Senate, Ahmad Lawan, has said the Senate will investigate the Petroleum Products Pricing Regulatory Agency over alleged non-remittance of N800 billion to the Federal Roads Maintenance Agency (FERMA) for the maintenance of roads across the country.

The Petroleum Products Pricing Regulatory Agency (PPPRA) has assured Nigerians of availability of petroleum products throughout the yuletide period.

The Petroleum Products Pricing Regulatory Agency (PPPRA) said that the current open price market of the Premium Motor Spirit (PMS) also known as Petrol as at Nov. 15 was N163.68.

The current open market price for Premium Motor Spirit, popularly known as petrol is N163.68 per litre, the Petroleum Products Pricing Regulatory Agency stated on Monday.

In what may be described as a final offensive in its fight against smuggling, the federal government through the Comptroller-General of the Nigeria Customs Service, Hameed Ali, on Thursday announced the suspension of diesel and petrol supply to filling stations within 20 kilometres radius to all Nigerian borders.

The Independent Petroleum Marketers Association of Nigeria (IPMAN) Kano unit, has commended the launching of the automation of the downstream sector of the petroleum industry.

The Petroleum Products Pricing Regulatory Agency (PPPRA) has threatened to sanction marketers of petroleum products who fail to display the prices of products in their retail outlets at all times.

The Nigeria Extractive Industries Transparency Initiative (NEITI) said that N28.58 trillion was remitted to the Federation Account between 2012 and 2016, from mineral revenues, non-mineral revenues and Value Added Tax (VAT).

The Petroleum Products Pricing Regulatory Agency (PPPRA) has disclosed that the country’s daily consumption of petrol dropped from about 61 million litres to 50.22 million litres following the partial closure of Nigeria’s western border with Benin Republic and giving credence to claims that millions of litres are smuggled daily to Cameroon, Niger, Chad and Benin Republic.

N28.58 trillion was remitted to Nigeria’s Federation Account between 2012 and 2016, according to a report from the Nigeria Extractive Industries Transparency Initiative (NEITI).

The volume of petroleum products transported from the Nigerian National Petroleum Corporation fuel depots reduced in the wake of the recent closure of the Nigerian border with Benin Republic, the Petroleum Products Pricing Regulatory Agency (PPPRA) has reported.

The implementation of the proposed reduction of the federal government’s equity holding in the joint ventures in the oil industry is one of the priorities of the Minister of State for Petroleum Resources, Timipre Sylva.

The Petroleum Products Pricing Regulatory Agency (PPPRA) is set to commence a comprehensive audit and survey of downstream oil and gas logistic facilities, with a view to identifying the infrastructure gap in the sector, while ascertaining the state and adequacy of the current ones in use.

The National Bureau of Statistics said 5.61 billion litres of premium motor spirit (PMS) was imported into the country in the second quarter of 2019.

The Manufacturers Association of Nigeria (MAN) has kicked against denomination of price of gas in US dollars and worried that price of gas has become major source of conflict between members and the gas franchisers.

The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has said that Nigeria’s continuous subsidising of petrol consumption means the Nigerian National Petroleum Corporation (NNPC) will remain unprofitable in for a long time.

Nigeria’s Finance Minister Zainab Ahmed has reiterated government’s resolve not to remove fuel subsidy. She made the emphasis against the backdrop of long queues emerging at some filling stations amid the fear that a removal was imminent.

The Independent Petroleum Marketers Association of Nigeria (IPMAN), and National Union of Petroleum and Natural Gas Workers (NUPENG), have urged Nigerians to stop panicking over fuel scarcity as there is sufficient product.