Fuel Price: NMDPRA will come tough against sharp practices by operators – PETROAN

The Petroleum Products Retail Outlets Owners Association, PETROAN, has said that the Nigeria Midstream and Downstream Petroleum Regulatory Authority volition not hesitate to clamp down connected crisp signifier by operators successful the lipid and state assemblage against Nigerians.

The President of PETROAN, Billy Gillis-Harry disclosed this to DAILY POST successful an interrogation connected Tuesday.

Gillis-Harry spoke aft a caller stakeholders’ meeting, noting that NMDPRA has the mandate to modulate the lipid and state assemblage to forestall it from being hijacked by anti-competitive forces.

According to him, the bureau has pledged committedness to turn Nigeria’s system and promote the easiness of doing concern for the payment of each Nigerians.

“NMDPRA is established by instrumentality to guarantee that each azygous effort to modulate the mainstream and downstream assemblage of the petroleum manufacture is sufficiently managed.

“So acold from what they are doing, you can’t flight crisp practices with the vigilant. They are anxious to turn the economy, and our businesses and besides enactment a just concern situation for the payment of Nigerians.

“NMDPRA’s relation is to enforce sections of the PIA relating to pricing. They volition marque definite that the manufacture is regulated without immoderate lopsidedness to enactment monopoly,” helium said.

His comments travel amid the caller hike successful the terms of fuel to betwixt N1030 and N1200 per liter by the Nigerian National Petroleum Company and different players successful the industry.

In the past months, Nigerians person continued to witnesser substance terms hikes arsenic the inflation complaint roseate to 32.70 percent successful September 2024.