Financial Energy Review
The Petroleum Products Pricing Regulatory Agency (PPPRA) has warned marketers of Premium Motor Spirit (PMS) and other petrol products against profiteering during the new year celebration and beyond.
The Executive Secretary of the Agency, Abdulkadir Saidu, who issued the warning in Abuja, said the country has more than two billion litres and about 40 days of sufficiency.
He said: “The Country also has a total average volume of 623,080,000 litres of Automotive Gas Oil (AGO) or diesel with 44.51 days’ sufficiency, which signals good news for luxurious buses that are expected to dominate long travels during the festive season.
“In addition to petrol and diesel availability, Nigeria has 25 days sufficiency of Aviation Turbine Kerosene (ATK) with a total of 75,780,000 litres and 34.18 days sufficiency with a total of 25,293,200 litres of Household Kerosene (HHK) for domestic use,” it said.
While cautioning against racketeering, PPPRA urged marketers to play within the rules guiding the downstream sector.
