The Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA has said that the announcement of the removal of subsidy on Premium Motor Spirit PMS by President Bola Tinubu was in line with the Petroleum Industry Act (2021) which provides for total deregulation of the petroleum downstream sector to drive investment and growth.
General Manager, Corporate Communications of NMDPRA, Kimchi Apollo, in a statement issued on Tuesday, said “We are working closely with NNPC Limited and other key stakeholders to guarantee a smooth transition, avoid supply disruptions, and ensure that consumers are not shortchanged in any form.”
Fuel readily available
Apollo assures the public that there is ample supply of Premium Motor spirit PMS (petrol) to meet demand as the organisation has taken necessary steps to ensure that distribution channels remain uninterrupted and fuel is readily available at all filling stations across the country.
He said “we call on Nigerians to remain calm and resist the urge to stockpile as it poses a significant safety hazard. In the same vein, Operators are advised to refrain from hoarding petrol and causing hardship”, he advised.
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.
He said they would continue to monitor activities and implement necessary measures to enhance transparency and accountability in the petroleum downstream sector.
Lateefah Ibrahim
