• Latest
  • Trending
Nigeria: PPPRA Says Deleted Publication Showed Market Trend, Not Increase in Petrol Price

Nigeria: PPPRA Says Deleted Publication Showed Market Trend, Not Increase in Petrol Price

March 12, 2021
Chauvin Waives Right to Testify at Murder Trial for George Floyd Arrest

Chauvin Waives Right to Testify at Murder Trial for George Floyd Arrest

April 15, 2021
Armed Herders Enjoying Protection of Nigerian Government, Benue Governor Ortom Claims

Nigeria Government Officials Involved in Kidnapping, Benue State Governor Ortom Alleges

April 15, 2021
10 Ex-Governors Linked With N30BN Property In The U.K. Trending with Ojy Okpe

10 Ex-Governors Linked With N30BN Property In The U.K. Trending with Ojy Okpe

April 15, 2021
President Buhari Returns to Nigeria after UK Medical Trip

President Buhari Returns to Nigeria after UK Medical Trip

April 15, 2021
Rice-cultivating Borno Town Retaken from Boko Haram, Nigeria’s Military Says

Insurgents Not in Control of Damasak in Northeastern Nigeria, Army Says

April 15, 2021
Car Bomb Kills Four in Iraqi Capital Baghdad

Car Bomb Kills Four in Iraqi Capital Baghdad

April 15, 2021
‘Dominant’ South African Strain Powering Covid Second Wave in Africa

Africa CDC Says It Cannot Predict When Second Covid-19 Shots Will Arrive

April 15, 2021
Malawi to Destroy 16,000 Expired Covid Vaccines

Malawi to Destroy 16,000 Expired Covid Vaccines

April 15, 2021
‘Every Vote Must Be Counted!’ Biden Says, Has ‘No Doubt’ He will Be Declared Winner

US Imposes Sanctions on Russia, Expels Diplomats Over Cyber-attacks, Election Interference

April 15, 2021
Indian Farmers Continue to Protest New Agricultural Laws

Indian Farmers Vow to Carry On Months-Long Protest Despite Concerns Over Coronavirus

April 15, 2021
Madagascar Postpones Schools Resumption Over Covid

Madagascar Postpones Schools Resumption Over Covid

April 15, 2021
Europe’s Vaccine Rollout ‘Unacceptably Slow’, WHO Says

Europe Surpasses One Million Covid-19 Deaths

April 15, 2021

Nigeria: Acting Police Chief Disbands Monitoring Units Over Harrasment Complaints

April 15, 2021

Nigeria: Edo Governor Obaseki Says Finance Minister Playing to the Gallery Over ‘Printed N60bn’

April 15, 2021

Global Business Report

April 15, 2021
ARISE.TV HEADLINES 15-04-21

ARISE.TV HEADLINES 15-04-21

April 15, 2021

Morning Show

April 15, 2021
‘I Still Wash Her Clothes’: Seven Years After, Parents of Abducted Chibok Girls Hope for Children’s Return

‘I Still Wash Her Clothes’: Seven Years After, Parents of Abducted Chibok Girls Hope for Children’s Return

April 15, 2021
Hyundai Motor Group Plans to Launch EVs in China Every Year Starting 2022

Hyundai Motor Group Plans to Launch EVs in China Every Year Starting 2022

April 15, 2021
Edo Poll: Senate Minority Caucus Says Obaseki’s Victory Signals End of Godfatherism

Nigeria Senate Summons Finance Minister, Accountant-General Over Alleged $20m Secret Withdrawal

April 15, 2021
Christ the Redeemer Lit Up to Mark 100 Days Till the Olympics

Christ the Redeemer Lit Up to Mark 100 Days Till the Olympics

April 15, 2021
BUA Group, French Company Strengthen Deal on 200,000bpd Refinery Project

BUA Group, French Company Strengthen Deal on 200,000bpd Refinery Project

April 15, 2021
Biden Considers Executive Actions on Guns, Calls on Congress to Pass Weapons Ban

US to Impose Sanctions on Russia for Cyber-attacks

April 15, 2021
Defence Expert Testifies George Floyd Died of Heart Disease, Car Exhaust Fumes

Defence Expert Testifies George Floyd Died of Heart Disease, Car Exhaust Fumes

April 15, 2021
Nigeria: Senior Lawyers Back Direct Fund Allocation to State Judiciaries

Nigeria: Senior Lawyers Back Direct Fund Allocation to State Judiciaries

April 15, 2021
Brazil Military Chiefs Quit as Bolsonaro Seeks Their Support

Brazil Senate Investigating Bolsonaro’s Handling of Covid-19

April 15, 2021
NNPC Reports Reduced Pipeline Vandalism While Kenyans Brace For Higher Fuel Prices

NNPC Reports Reduced Pipeline Vandalism While Kenyans Brace For Higher Fuel Prices

April 15, 2021
South Africa: Dealing With Other Viruses Like Corruption And Incompetence – Peter Major

South Africa: Dealing With Other Viruses Like Corruption And Incompetence – Peter Major

April 15, 2021
South African Judge to File Criminal Complaint Against Zuma

Defiant Zuma Rejects Court Deadline, Describes Request as ‘a Sham’

April 15, 2021
Man City Beat Dortmund 2-1 Again to Reach Champions League semis

Man City Beat Dortmund 2-1 Again to Reach Champions League semis

April 15, 2021
en English
ar Arabiczh-CN Chinese (Simplified)nl Dutchen Englishfr Frenchde Germanit Italianpt Portugueseru Russianes Spanish
No Result
View All Result
Thursday, April 15, 2021
Arise News
  • HOME
  • Breaking
  • Global
  • Regional
  • BUSINESS
  • Politics
    • US ELECTION
  • Entertainment
  • Sports
  • TECH
  • Health
  • VIDEOS
  • Covid-19 Updates
Arise News
  • HOME
  • Breaking
  • Global
  • Regional
  • BUSINESS
  • Politics
    • US ELECTION
  • Entertainment
  • Sports
  • TECH
  • Health
  • VIDEOS
  • Covid-19 Updates
No Result
View All Result
Arise News
No Result
View All Result
Home Latest

Nigeria: PPPRA Says Deleted Publication Showed Market Trend, Not Increase in Petrol Price

March 12, 2021
Reading Time: 3min
0 0
0
Nigeria: PPPRA Says Deleted Publication Showed Market Trend, Not Increase in Petrol Price
Share on FacebookShare on Twitter

The Nigerian agency that monitors and determine the prices of petroleum products in the country, Petroleum Products Pricing Regulatory Agency (PPPRA) says the petroleum pricing template published on its website was not intended to cause an increase in the price of petrol, but to reflect current market fundamentals

The agency’s executive secretary, Abdulkadir Saidu in a statement released on Friday said the pricing template was “only indicative of current market trends”.
According to Mr Saidu, the agency doesn’t “fix or announce prices and therefore there is no price increase,” adding that “the current PMS price is being maintained while consultations are being concluded”.
He said: “The PPPRA by this release wishes to state clearly that the Guiding Prices posted on our website was only indicative of current market trends and do not translate to any increase in the pump price of PMS. However, publications by the media to this effect have been misconstrued and thus misleading.
“The Agency wishes to remind the general public of the introduction of the Market-Based Pricing Regime for PMS Regulation 2020 as gazetted by the Federal Government. Based on this regulation, prices are expected to be determined by market realities in line with the dictates of market forces.
“One of the conditions for the implementation of the Market-Based Pricing Regime for PMS Regulation 2020 is the monthly release of Guiding Price to reflect current market fundamentals.
“The PPPRA in line with its mandate to maintain constant surveillance overall key indices relevant to pricing policy monitors market trends on a daily basis to determine Guiding Prices.
“The Agency is not unaware of the challenges with the supply of PMS due to some concerns leading NNPC to be the sole importer of PMS. PPPRA is also mindful of the current discussion going on between the government and the Organised Labour on the deregulation policy.
“PPPRA does not fix or announce prices and therefore there is no price increase. The current PMS price is being maintained while consultations are being concluded.
“Even though market fundamentals for PMS in the past few months indicated upward price trends, the pump price has remained the same and we are currently monitoring the situation across retail outlets nationwide.”
By Abel Ejikeme

  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2020 Arise News - Part of the Arise Media Group.

No Result
View All Result
  • HOME
  • Breaking
  • Global
  • Regional
  • BUSINESS
  • Politics
    • US ELECTION
  • Entertainment
  • Sports
  • TECH
  • Health
  • VIDEOS
  • Covid-19 Updates

© 2020 Arise News - Part of the Arise Media Group.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist