No plans to increase fuel pump price on April 1 – PPPRA official

[MrVan]

Abuja – A top official of the Petroleum Products Pricing Regulatory Agency (PPPRA) has debunked speculations that the Federal Government would increase the pump price of fuel by April 1.

The official, who pleaded anonymity, disclosed this in an interview on Friday in Abuja.

"I can tell you categorically that there is no plan by the Federal Government to increase the price of fuel on April 1 or any time.

"It is a rumour. Provisions for subsidy have already been made in the 2012 budget, and as such, there is no plan to fully deregulate the downstream sector in 2012.''

The official urged commuters to desist from panic buying and hoarding of fuel as there was enough product to go round the country.

He said that government was trying to review and set machinery in place to implement the Subsidy Reinvestment and Empowerment Programme (SURE) and not an increase in pump price.

According to him, it will be fool hardy for government to contemplate an increase in fuel price at a time when the ad-hoc committee on subsidy probe is about to submit its report.

"The Committee on subsidy probe is due to submit its report next week. The nation is anxiously waiting for that report. It will be unthinkable to suggest that government intends to increase the price of fuel."

The fuel queues have been building in most parts of the country as a result of the uncertainty surrounding the fuel increase. (NAN)

Vanguard Nigeria