Market to dictate petrol price now, says NMDPRA

Addressing a press conference in Abuja, Ahmed said that market forces would henceforth dictate prices under the liberalised market.

“As far as we are concerned in the NMDPRA, this is not like before when the PPPRA fixes the price; in a deregulated market, it is the market force that dictates the price,” he said. He added, “So, it is not about the Nigerian National Petroleum Company Limited alone. We put the regulation in place, we make sure quality control is complied with, we make sure the product is there and we give licence to prospective importers.

“We make sure we guide the operations of everyone in the sector whether at the depot or wherever the product is but we will not put a cap to say this is what the price must be,” he said.

Switzerland Neuesten Nachrichten, Switzerland Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

NNPC adjusts petrol pump price, says 'it's in line with market realities'The Nigerian National Petroleum Company (NNPC) Limited says it has adjusted the price of petrol, also known as premium motor spirit (PMS)...
Herkunft: thecableng - 🏆 2. / 80 Weiterlesen »

Naira slips at official market segmentNaira recorded losses on the spot market to trade at N464.67 on Wednesday.
Herkunft: PremiumTimesng - 🏆 3. / 78 Weiterlesen »

Lagos residents protest road conversion to market - Punch NewspapersResidents of Igando in the Alimosho Local Government Area of Lagos State have lamented over the closure of an exit road in the community.
Herkunft: MobilePunch - 🏆 8. / 63 Weiterlesen »