The company made the announcement in Abuja on Friday in a public notice, entitled: “Refutal that Brittania-U was among oil and gas companies that brought off-spec Premium Motor Spirit currently in circulation.”
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The Executive Secretary of the Agency, Abdulkadir Saidu, disclosed this in a statement in Abuja on Sunday.
The Chairman, House Committee on Finance, Rep James Faleke, gave the directive at an investigative hearing into alleged 30 billion dollars annual revenue leakage on Tuesday, in Abuja.
Femi Adesina, the Special Adviser to the President on Media and Publicity, said this in a statement in Abuja
The Chairman, Senate Public Account Committee, Senator Matthew Urhoghide, who issued the threat, directed the Committee Secretariat to write the agencies involved to appear latest by next week Tuesday or else the Senate will invoke the relevant sections of the Constitution against the agencies.
The Committee also summoned the Petroleum Products Pricing Regulatory (PPPRA) and the Department of Petroleum Resources (DPR) regarding the query from the Office of the Auditor General of the Federation against the agencies.
The PPPRA had announced a new price template on its website, which put the retail price for the product at between N209.61 and N212.61.
The panel, relying on a 2016 report by the Auditor-General for the Federation, said the subsidy amount reflected in the Federation Account Allocation Committee was N443 billion, while the record presented by the PPPRA showed N563 billion.
NNPC disclosed this in a written response to the query by the Auditor-General for the Federation.
According to the newspaper, the PPPRA Executive Secretary, Abdulkadir Saidu, said the retail price of petrol would henceforth be determined by demand and supply of the commodity and the international price of crude oil.
The Executive Secretary of the Agency, Saidu Abdulkadir, gave the assurance on Tuesday in Abuja, while briefing newsmen on the deregulation of the downstream oil and gas sector.
The National Public Relations Officer of IPMAN, Alhaji Suleiman Yakubu, said this during an interview with the News Agency of Nigeria on Wednesday in Abuja.
The agency made this known in a statement signed by its Executive Secretary, Saidu Abdulkadir, in Abuja on Sunday.
IPMAN’s President, Chinedu Okoronkwo, told the News Agency of Nigeria on Wednesday in Lagos that the increment from the price band of N121.50 to N123.50 per litre was determined by market forces.
PPRA Executive Secretary, Saidu Abdulkadir, stated this in a statement in Abuja, on Sunday.
The agency disclosed this in a letter to marketers with reference number A.4/9/017/C.2/V/701, titled: “Guiding Price for Premium Motor Spirit (PMS) in the Month of June 2020,” released on Monday in Abuja.
The Minister of State for Petroleum Resources, Chief Timipre Sylva says the downstream oil sector was deregulated on March 19 with the reduction in the pump price of Premium Motor Spirit, also known as petrol.
The Independent Petroleum Marketers Association of Nigeria on Saturday decried the proposed merger of three agencies in the petroleum industry.
The NNPC Retail Limited, one of the downstream subsidiaries of the Nigerian National Petroleum Corporation, has clarified that all its filling stations across Nigeria were selling premium motor spirit (petrol) within the official price band announced by the Petroleum Products Pricing Regulatory Agency for the month of April.
The Petroleum Products Pricing Regulatory Agency says it plans to begin monthly price modulation for petroleum products to reflect global market indices on April 1.