NMDRA Says No Plans For Upward Review Of Petrol Price

*Warns Marketers Against Increasing Petrol Pump  Price*

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDRA) has reassured Nigerians that the price of petrol has not been changed and that the Federal Government has no intention of an upward adjustment of the Price at the moment.

The assurance was contained in a statement signed by Farouk Ahmed,

Chief Executive Officer (CEO), the Nigerian Midstream and Downstream Petroleum Regulatory Authority, made available to journalists in Abuja.

The NMDRA boss cautioned marketers against hoarding and engaging in unwholesome practices that are inimical to the smooth supply of Petroleum.

“It has come to the notice of the Authority that Premium Motor Spirit (PMS) popularly known as Petrol is being sold at loading depots of Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) members above the official price which is caused by the erroneous insinuation of an imminent increase in the price of the product.

“The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDRA) is assuring the general public that the price of Petrol has not been changed and that the Federal Government has no intention of an upward adjustment of the Price at the moment.

“The Authority wishes to inform the general public to note that the country has adequate stock of Petroleum and the NNPC has further assured of sufficient supply of Product.

“Engr. Ahmed has directed all operational offices of the Authority across the nation to ensure that all loading depots and retail outlets are dispensing petroleum at only the approved price.

“He also urged motorists to desist from panic buying and report any erring marketer to the nearest office of the Authority” reads the statement in parts.