Tag

Oil and Gas

The pros and cons of sustaining Nigeria’s Petroleum Equalization Fund

In the last six months, the price of petrol (PMS) has been uniform across states in the country compared to kerosene (HHK) and diesel (AGO), data released by the National Bureau of Statistics data (NBS) revealed. The NBS data for December 2020 reveals that, apart from four states, namely, Kaduna, Abia, Kwara, and Katsina, the difference between the national average pump price of petrol and the prices across all the states is less than N5.

Economy

Nigerians may spend over ₦130 billion by December

As of March 2020, the federal government (FG) decided it was deregulating the oil sector. Mixed reactions and scepticism followed this announcement, and rightly so as the June template from the Petroleum Products Pricing Regulatory Agency (PPPRA) still shows allocation to the Bridging Fund. And the icing on the cake, Mr Sylva’s explanation of deregulation to mean marketers, still could not determine prices. Counterintuitive, some might say, which begs the question, did the government truly deregulate oil and gas? If yes, why then is the PPPRA still functioning under the same mandate?