Daily Trust (Abuja)
Francis Okeke
4 November 2009
Abuja — Petroleum Products Pricing Regulatory Agency (PPPRA) yesterday in Abuja said the Federal Government has not taken a final decision on the actual date for the commencement of the deregulation policy.
PPPRA's Executive Secretary Mr. Abiodun Ibikunle stated this during the inauguration of the agency's board by the Secretary to the Government of the Federation (SGF) Alhaji Mahmud Yayale Ahmed.
The new board of the PPPRA has former PDP Chairman Ahmadu Ali as its chairman with 24 others as members.
Speaking on government's position on deregulation, Ibikunle said there was no going back but that government was still consulting with relevant stakeholders and will commence implementation as soon as consultations are over.
"Government is determined to see deregulation go through but in doing that, government is still engaging in dialogue with stakeholders and we all know that the government of President Umaru Musa Yar'adua is a listening one.
"He is still engaged in consultations with all stakeholders and the interest of the general public will be taken into consideration at arriving at the way forward" he said.
He assured Nigerians of the sufficiency of petroleum products advising against hoarding and panic buying.
The SGF Mahmud Yayale Ahmed charged the newly inaugurated board consisting of representatives of major trade unions, select ministries, departments and agencies of government and the media to live up to the expectations of the Nigerian people.
On his part, Ahmadu Ali pledged the board will tackle "challenges linked to low refinery production resulting in massive importation at the expense of other competing needs with limited resources, pipeline vandalism leading to haulage of petroleum products by roads with its attendant hazards and inadequate reception facilities resulting in high demurrage among several other constraints."
The mandate of the board include "determining the pricing policy of petroleum product, regulating the supply and distribution of petroleum product, establishing an information data bank through liaison with all relevant agencies to facilitate the making of informed and realistic decision and moderate volatility in petroleum product prices while ensuring reasonable returns to operators."
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