NMDPRA promises regular fuel supply amid subsidy removal
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says it is working with NNPC and other stakeholders to guarantee a smooth transition following the fuel subsidy removal.
President Bola Tinubu, in his inaugural speech on Monday, said the fuel subsidy regime had ended with the commencement of his administration.
NMDPRA stated this on Tuesday in a statement signed by its spokesman Kimchi Apollo to address concerns regarding the subsidy removal.
The agency said it was working to avoid disruptions in the supply of Premium Motor Spirit (PMS), also known as petrol, and ensure that consumers were not short-changed in any form, assuring ample supply of petrol to meet demand and that the authority had taken necessary steps to ensure that distribution channels remained uninterrupted and fuel readily available at all filling stations nationwide.
The statement urged Nigerians not to panic over the subsidy removal as the authority had ensured the availability of petrol nationwide.
“Contrary to speculations and concerns, the announcement is in line with the Petroleum Industry Act (PIA 2021), which provides for total deregulation of the petroleum downstream sector to drive investment and growth,” the NMDPRA stated. “We, therefore, call on Nigerians to remain calm and resist the urge to stockpile as it poses a significant safety hazard. The NMDPRA reassures all Nigerians that the removal of subsidy on PMS is a step towards building a more sustainable and prosperous future for our nation.”
It added, “We will continue to monitor activities and implement necessary measures to enhance transparency and accountability in the petroleum downstream sector.”
(NAN)
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