Following the suspension of an industrial action by the Depot and Petroleum Products Marketers Association (DAPPMA), the Petroleum Products Pricing Regulatory Agency (PPPRA), has cleared the panic, supposedly; caused by market speculators on alleged plans by the Federal Government to increase the pump price of Premium Motor Spirit (PMS) also known as petrol.
The Agency through its Executive Secretary, Abdulkadir Saidu, appealed to Nigerians to ignore the growing speculation by describing it as baseless.
In a statement issued by the Agency on Tuesday, 11th December 2018, Saidu asserted that PPRA will ensure adherence to the regulated price and nip in the bud all other forms of sharp practices perpetrated by retail outlets.
He urged marketers to ensure that there was no price distortion in their respective retail outlets, adding that PPPRA would continue to carry out its oversight function of monitoring exercise in depots and in all filling stations across the country.
Saidu also applauded the decision taking by Depot and Petroleum Products Marketers Association (DAPPMA) for embracing dialogue with the Federal Government to resolve the issues arising from the payment of the outstanding fuel subsidy claims.
Saidu further opined that embarking on strike was not always the best option to address any industrial dispute, adding that the multiplier effects were always too much to bear. He then appealed to the leadership of the oil marketers’ associations to cooperate with Government to find a workable solution to the issues emanating from the payment of subsidy arrears.
The statement also noted that PPPRA would continue to support, cooperate and collaborate with marketers to ensure a conducive industrial climate where the best of the oil and gas sector could be showcased.
Additionally, Saidu assured Nigerians of PPPRA’s total commitment to service delivery and uninterrupted petroleum product supply and distribution especially during the yuletide and beyond.
He finally appealed to motorists and other PMS consumers to desist from panic-buying, as PPPRA is working round the clock with other Government Agencies to ensure adequate supply and distribution of petroleum products nationwide.
