Energy
Enang urges stakeholders’ discussion on PPPRA oil price template
Senator Ita Enang, Senior Special Assistant to the President on Niger Delta Affairs, says there is the need for public discussion on the monthly pricing modulation of petroleum products by the Petroleum Products Pricing Regulatory Agency (PPPRA).
Enang made the call when he featured on the News Agency of Nigeria (NAN) Forum, on Thursday in Abuja.
According to him, there is the need to educate Nigerians on how the monthly price modulation of petroleum products is being calculated by the PPPRA.
This, he said, would ensure transparency and accountability which were focal points of President Muhammadu Buhari’s administration.
“I think we have to go to the real cost of production. We must take the template of the PPPRA and let the public discuss this template.
“This is because what is involved in this template is so unreasonable against the public.
“We are just paying for what people have calculated. Let us ask for the different prices and the template will definitely change when there is no element of import, export and so on. The price will definitely come down.
“It is for the public to engage with the PPPRA and look at the template and analyse the various costs therein, such as cost for NIMASA, NPA, cost of products, export duties, taxes, and retention by PPPRA, among others.
“Nigerians, it is time for us to look at all the agencies in the petroleum sector,’’ he said.
He said that various agencies in the petroleum sectors had a lot of cost implications on Nigerians as consumers of petroleum products.
Enang listed the agencies to include Petroleum Equalisation Fund (PEF), PPPRA, Petroleum Technology Development Fund (PTDF), and the Nigerian Content Development Monitoring Board (NCDMB).
Others included the Department of Petroleum Resources (DPR), and the Petroleum Products Marketing Company (PPMC). (NAN)
