Petroleum marketers in crucial meeting with PPPRA over fuel subsidy removal

Government strategises...Photo


A crucial meeting of all petroleum products marketers in the country is currently holding in Abuja.

The meeting, in session at the headquarters of the petroleum Products Pricing Regulatory Authority (PPPRA), has in attendance top officials of the independent and major petroleum marketing companies in the country,  National Association of Road Transport Owners (NARTO) as well as those of government agencies related to the management of petroleum products marketing and distribution.

Though the agenda of the meeting is a closely guarded secret, even to most staff of the PPPRA, Premium Times gathered from authoritative sources that it is not unconnected to the planned removal of subsidy on petroleum products by the Federal Government. 

“I can tell you it’s a strategy meeting,” said a PPPRA source, who pleaded not to be named because he has no permission to speak on the matter. “Government is bent on going ahead and we are trying to work out a strategy and bring all stakeholders on board.”

President Goodluck Jonathan was, while presenting the 2012 budget to the joint session of the National Assembly yesterday in Abuja, silent on the provision for fuel subsidy for 2012, an indication that the government has made up its mind to go ahead with the removal of the subsidy in spite of fierce opposition by a majority of Nigerians on the issue.

There is heavy security cordon around and within the venue of the meeting, as movement of visitors to the PPPRA office has been highly restricted to the ground floor which houses a  commercial bank.  

Premium Times gathered that the  meeting would provide a forum for stakeholders to discuss modalities for the take off of the era of fuel subsidy removal in the country, which will mark the beginning of full deregulation of the downstream sector of the petroleum industry.

The Executive Secretary of PPPRA, Reginald Stanley, is expected to address the media on the outcome of the meeting later today. 


Support PREMIUM TIMES' journalism of integrity and credibility


Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.

By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.


NEVER MISS A THING AGAIN! Subscribe to our newsletter

* indicates required


Now available on

  Premium Times Android mobile applicationPremium Times iOS mobile applicationPremium Times blackberry mobile applicationPremium Times windows mobile application

TEXT AD: New Discovery! Click Here To See A Miracle Device That Can Cure DIABETES, BLOOD PRESSURE, STROKE, ARTHRITIS, PAINS, OBESITY And 50 Other CHRONIC DISEASES Without Drugs Or Herbs.. Click Here Now To See It

All rights reserved. This material and any other material on this platform may not be reproduced, published, broadcast, written or distributed in full or in part, without written permission from PREMIUM TIMES.