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Sun. Jul 3rd, 2022

Fuel scarcity: Petrol Price to Remain at N165 per Litre, NMDPRA Insists

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The Nigeria’s Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says pump price of fuel must remain at N165.

Executive Director, Distribution Systems, Storage and Retail Infrastructure (NMDPRA) Mr Ugbugo Ukoha stated this on Tuesday after visiting jetties in Apapa, Lagos.

He said, “When we observed that this poses a big challenge in the movement of other products, we made the representation to the Minister of State for Petroleum and Mr President graciously approved that the freight rate for trucks be increased.

“There’s a N10 addition, which we will apply to the different routes to enable trucks to move to docks easily with less burden.

“With these kinds of efforts from the government, we can only continue to appeal to operators within this industry to play by the rules. “PMS is a regulated product and the prices are fixed. The ex-depot price is known. The pump price remains N165 and the authority is ever ready to enforce those rules. “So, we will continue to urge Nigerians to keep within these operating rules.”

This is despite the position of oil marketers under the Depot and Petroleum Products Marketers’ Association of Nigeria (DAPPMAN) that the current pump price for petrol in the country was unsustainable.

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