By Adewale Sanyaolu
The Petroleum Products Pricing Regulatory Agency (PPPRA), has said that there are no plans to increase the pump price of petrol from the current N145 per litre
PPPRA is the agency responsible for regulating petroleum products pricing, supply and distribution, across the country.
A statement signed by PPPRA’s Executive Secretary, Mr. Abdukadir Saidu, assured that the subsisting pump price cap for petrol remains N145 per litre across the country.
The agency explained that it had to make the clarification because of the growing speculations on a purported imminent increase in the pump price of petrol by N5.00 per litre.
‘‘The Agency hereby wishes to dispel this rumour and assuage the concerns of Nigerians,” a statement signed by the PPPRA Executive Secretary Abdukadir U. Saidu said.
“We again wish to assure all Nigerians that pursuant to its mandate, the PPPRA shall not fail in its efforts geared towards ensuring products availability, and at regulated price, for the benefit of all,” he said.
The assurance of PPPRA may not be unconnected with the move by the Senate to consider the National Roads Fund Establishment Bill 2017. Under the bill, the Senate is proposing a levy of N5 on every litre of petrol and diesel imported or refined in the country for the same purpose.
The Bill is equally proposing the return of tolls on federal roads and the setting aside of 0.5 per cent of transport fares paid by mass transit passengers for inter-state trips to generate funds for the rehabilitation and maintenance of roads in the country.
The Senate Committee on Works had, last week Thursday, listed the objectives of the bill to include the establishment of the National Roads Fund “to be a repository of revenues from road user related charges and other sources for financing, which shall be managed and administered for routine and periodic maintenance works on roads in Nigeria.”
It said the proposed fund would provide “predictable and sustainable funding for road maintenance and promote the sustainable management of road networks; establish the governing board, which shall be responsible for the management of the fund; and create an enabling environment for private sector participation, management and financing in the road sector.”
The lawmakers recommended that the National Roads Fund be established with high level of independence under the jurisdiction of the Federal Ministry of Finance, which would only oversee it for policy direction.