Osinbajo charges NPA to review dues on PMS

By Uthman Salami

The Vice President of Nigeria, Yemi Osinbajo, has called on the Nigerian Ports Authority (NPA) to review its import dues on Premium Motor Spirit (PMS) in a bid to reduce the pressure of the price in Nigeria.

The Vice President disclosed this at the Valuechain Magazine 2021 4th annual lecture and awards, themed “Enhancing effective synergy between oil and gas and maritime sectors for greater value creation.”

Though Vice President was not visibly present at the event, he was ably represented by the Honorable Minister of Petroleum Resources, Chief Timipre Sylva.

He insisted on the need for the maritime and oil and gas sectors to work hand in glove for economic growth and value addition in the country.

He said “You will agree with me that the maritime sector remains pivotal to the oil and gas sector in our country.

“The issues bordering around regulation 2014 has been brought to my notice, the implementation of regulation, especially this time the country is coming out of the global oil crisis

“I, therefore, urge that you keep the implementation in view to a more suitable time for our economy.”

He, however, charged the NPA to review its operations as it relates to the price of the petrol, noting that President Muhammadu Buhari has given his approval for a potential reduction.