DPR clarifies issue on subsidy removal
By Abisola THOMPSON
The Department of Petroleum Resource (DPR) has clarified alleged misinterpretation regarding subsidy removal
Mr Paul Osu, Head, Public Affairs, DPR disclosed in a statement in Lagos on Tuesday said the agency’s attention has been drawn to the ongoing misinterpretation comments flying around regarding subsidy removal.
Osu said that this follows an online publication stating that the price of PMS could rise up to N1,000/litre upon the subsidy removal without alternative energy.
“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.
He said that 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 , 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.
The Department hereby restates that we will continue to enable businesses and create opportunities through our downstream focus on Quality, Quantity, Integrity and safety (QQIS).
