Fuel Subsidy: There’s Adequate Supply To Meet Demand – NMDPRA

By Miriam Humbe, Abuja

The Nigerian Midstream and Downstream Petroleum Regulatory Authority, (NMDPRA) has allayed fears of possible shortages of the Premium Motor Spirit, (PMS) regarding the announcement of the removal of subsidy on Premium Motor Spirit, (PMS) by President Bola Ahmed Tinubu.

NMDPRA’s General Manager, Corporate Communications, Kimchi Apollo said this in a statement signed on Tuesday.

NMDPRA therefore issued the statement to address concerns.

The NMDPRA said that contrary to speculations and concerns, the announced was in line with the Petroleum Industry Act, (2021) which provided for total deregulation of the petroleum downstream sector to drive Investment and growth.

NMDPRA said: “We are working closely with NNPC Limited and other key stakeholders to guarantee a smooth transition, and avoid any disruptions in supply as well as ensure that consumers are not short-changed in any form.”

The Authority assured that there was ample supply of PMS to meet demand as they had taken necessary steps to ensure distribution channels remained uninterrupted and fuel was readily available at all filing stations across the country.

NMDPRA said: “We therefore call on Nigerians to remain calm and resist the urge to stockpile as it poses significant safety hazard.

“The NMDPRA reassures all Nigerians that the removal of subsidy on PMS is a step towards building a more sustainable and prosperous future for our nation.

“We will continue to monitor activities and implement necessary measures to enhance transparency and accountability in the Petroleum downstream sector.”

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