DPR Clarifies Issue On Subsidy Removal

Yemisi Izuora
The Department of Petroleum Resources, DPR, has denied saying that pump price of Petrol would rise to N1,000 a liter if subsidy is removed.

Paul Osu, spokesman of the Agency, in a statement denied an online publication which made the which misreported the scenario created by the Director of the DPR, Auwalu Sarki.

“We wish to state that the headline of the publication is misleading as the comments of the Director/CEO DPR was clearly taken out of context.

“The Director/CEO specifically created a scenario of price instability of pms based on current dollar to naira differentials to the effect that if Nigeria continues to rely on the importation of pms without creating alternative energy sources like CNG, LNG, AUTOGAS etc which will provide price buffers for consumers and ultimately crash the price of pms, then the product will be subject to prevailing market forces.

“The Director further reemphasized that the strategy for alternative energy sources is a cardinal program of the government which has led to the declaration of the Decade of Gas (DoG) with the objective to migrate the Nigerian economy to a gas based economy by 2030.” Osu explained.

He estated commitment of the Agency to enable businesses and create opportunities through its downstream focus on Quality, Quantity, Integrity and safety (QQIS).

 

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