The Petroleum Products Pricing Regulatory Agency (PPPRA) announced, on Tuesday, that it did not approve any N5 increase in the pump price of petrol.
PPPRA is the authorised agency of the Federal Government charged with fixing and regulating prices of petroleum products across the country.
The agency dispelled speculations of an imminent increase in the price of petrol by N5 per litre and stated that it had not given any such approval to anybody or group, Punch reports.
The Senate Committee on Works in its National Road Fund Establishment Bill, proposed a fuel levy charge that will make end-users, including motorists, to pay a N5 tax on every litre of PMS bought.
“As the agency of government saddled with the responsibility of regulating petroleum products pricing, supply, and distribution, we want to assure the Nigerian public that the subsisting pump price cap for PMS remains N145 per litre across the country and as such, Nigerians should please ignore the speculation on the price increase.
“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 a regulated price, for the benefit of all.”
