The Petroleum Products Pricing Regulatory Agency, PPPRA, yesterday, disclosed that N8.9 trillion was spent on fuel subsidy by the Federal Government, mainly by previous administrations, between 2006 and 2015. According to data released to support the need for deregulation of the downstream petroleum industry, the PPPRA stated that the bulk of the sum was expended between 2011 and 2015, where N6.7 trillion, representing 74.8 per cent of the total were spent on subsidy. Giving a breakdown of the figure, the PPPRA disclosed that N257.36 billion, N271.51 billion, N630.57 billion, N409.31 billion, and N667.08 billion were spent on fuel subsidy in 2006, 2007, 2008, 2009, and 2010, while in 2011, 2012, 2013, 2014 and 2015, fuel subsidy gulped N2.1 trillion, N1.35 trillion, N1.32 trillion, N1.22 t...
The Petroleum Products Pricing Regulatory Agency, PPPRA, blamed foreign exchange challenges and prevailing uncertainty for the inability of oil marketers to resume fuel import. Addressing newsmen in Abuja, Executive Secretary of the PPPRA, Mr. Saidu Abdulkadir, explained that the Petroleum Products Marketing Company, PPMC, had been the one announcing the price of petrol over the last few months, because it was within its rights to do so, as one of the oil marketers and a major supplier of the commodity. Abdulkadir, who was represented by the General Manager, Administration, and Human Resources of the PPPRA, Mr. Victor Shidok, stated that because of the difficulties in accessing foreign exchange by oil marketers, the PPMC is currently the sole importer of the commodity into the country, and...
The Petroleum Products Pricing Regulatory Agency (PPPRA) kept the petrol dealers guessing on Tuesday when it approved an ex-depot price of N138.62 per litre for the Premium Motor Spirit (PMS) petrol and kept the pump price to its chest. The post PPPRA fixes petrol ex-depot price for N138.62 appeared first on TODAY. You Deserve to Make Money Even When you are looking for Dates Online. So we reimagined what a dating should be. It begins with giving you back power. Get to meet Beautiful people, chat and make money in the process. Earn rewards by chatting, sharing photos, blogging and help give users back their fair share of Internet revenue.
AHA Taxis Oil marketers, under the aegis of Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), yesterday, kicked against attempts by some labour groups and trade associations to stage a protest march in opposition to the recent hike in the price of Premium Motor Spirit, also known as petrol. The Nigeria Labour Congress (NLC), United Labour Congress (ULC) and some other oil marketing groups had threatened to embark on a nationwide strike over the hike in petrol price, while they called on the government to revert to the previous price. In a statement in Abuja, National President of PETROAN, Dr. Billy Gillis-Harry, stated that while its members are not happy with the way certain things are in the downstream petroleum industry at the moment, they do not think any stree...