The Federal Government, Monday, said it is not going back on its decision to remove subsidy from Premium Motor Spirit, also known as petrol.

Specifically, the Petroleum Products Pricing Regulatory Agency, PPPRA, in a statement signed by its Acting Executive Secretary, Mrs. Sotonye Iyoyo, explained that what currently exists is the price modulation mechanism through which price of PMS is adjusted in line with market realities.

She said, “Contrary to reports by a Section of the Nigerian Media, the Federal Government has not reversed its decision to remove subsidy on Premium Motor Spirit (PMS), moreso when there is no appropriation for subsidy in the 2016 budget.

“The PPPRA wishes to state categorically that what still exists is Price Modulation Policy, through which it considers and reviews pump price of PMS quarterly.

“The Agency also wishes to assure Nigerians that the funds from Over-Recovery in the first quarter (Q1) shall be duly utilized for whatever noticeable imbalance in April 2016 in line with the Price Modulation Principle.

“While appreciating the patience of Nigerians, the PPPRA wishes to reiterate its commitment to ensuring seamless supply and distribution of petroleum products in the Country.”

99100:


... but similar move from GEJ govt was for a bad cause ..
abi ? hence the protest from the same APC back then. hmm.. hypocrisy of the highest order if u ask me.
Yeye dey smell.

steppin:

When GEJ did it, it wasn't for a good cause. But now, it suddenly turned to a good cause. Thunder wey go fire dis zombies eh!

steppin:

Would have... Story for the gods.
This people are shameless! Zombie

dokunbam:
Source

I believe their decision is for a good cause and to rid the sector of corruption

99100:


... but similar move from GEJ govt was for a bad cause ..
abi ? hence the protest from the same APC back then. hmm.. hypocrisy of the highest order if u ask me.
Yeye dey smell.

RALPHOW:


You and I knows that every decision took by that regime has CORRUPTION in its background.

ArodewilliamsT:
I thought APC have argued for years that there was nothing like subsidy? Thank God I'm not a poor man. Even if fuel is N500/ litre, I cam still afford it. The poor chanji zombies in Osun should gnash their teeth. Their cries are music to my ears.

kendo24:
GEJ is fore sighted. He inadvertently knew we wud get here some day, hence, his earlier decision to remove subsidy. But some uniformed idiots decided to occupy Nigeria at freedom park, exposing their gullibility to the whole world...#changeINDEED

blackpanda:


Gej didnt have any foresight. How can u remove subsidy when there are no structures on ground, comatose refineries and pms was selling at an all time high in international market. That doesnt make sense. Govt is able to remove it now because concerted efforts have been made to provide enabling structures.

RALPHOW:


You and I knows that every decision took by that regime has CORRUPTION in its background.

Fmartin:
Wailers una food don ready.

pedel:


You are right. The introduction of new plate numbers, drivers licence and the so called e-passport. Everything was corruption propagating.
The last administration created the situation the country is in today.

Ohammadike:
Confused government

blackpanda:


Gej didnt have any foresight. How can u remove subsidy when there are no structures on ground, comatose refineries and pms was selling at an all time high in international market. That doesnt make sense. Govt is able to remove it now because concerted efforts have been made to provide enabling structures.

mbhs139:


I don't really think the Govt is confused, I think it's the Nigerian press that hasn't been giving us the story the way they ought to- sensationalism is their order of the day.

RALPHOW:


You and I knows that every decision took by that regime has CORRUPTION in its background.

Contrary to reports by a Section of the Nigerian Media, the Federal Government has not reversed its decision to remove subsidy on Premium Motor Spirit (PMS), moreso when there is no appropriation for subsidy in the 2016 budget.

blackpanda:


Gej didnt have any foresight. How can u remove subsidy when there are no structures on ground, comatose refineries and pms was selling at an all time high in international market. That doesnt make sense. Govt is able to remove it now because concerted efforts have been made to provide enabling structures.