Fuel Subsidy Removal; NMDPRA assures of adequate supply, To monitor activities
Written by Tunde Adeyemi on May 30, 2023
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says there is no need to panic over the announcement of the removal of subsidy.
The statement is in wake of President Bola Tinubu innugural speech that his administration will not fund fuel subsidy.
NMDPRA notes that contrary to speculations and concerns, the announcement is in line with the Petroleum Industry Act (2021) which provides for total deregulation of the petroleum downstream sector to drive investment and growth.”
The authority says it is working with relevant stakeholders to guarantee a smooth transition, avoid any disruptions in supply as well as ensure that consumers are not short-changed in any form.
It assures that there is ample supply of PMS to meet demand and steps taken to ensure distribution channels remain uninterrupted and fuel is readily available at all filling stations across the country.