How important PPPRA in Regulating Petroleum Industry in Nigeria

Petroleum Products Pricing Regulatory Agency (PPPRA) is a governmental organisation in Nigeria established  in 2003. The responsibilities are to monitor and regulate the supply and distribution, and determine the prices of petroleum products in Nigeria. Its headquarters is located in Abuja, Nigeria.  petroleum

Its major functions are :

  • To regulate the supply and distribution of petroleum products.
  • To determine the pricing policy of petroleum products.
  • To oversee the implementation of the relevant recommendations and programmes of the Federal Government as contained in the Report of the Special Committee on the review of the Petroleum Products Supply and Distribution.
  • To create an information databank through liaison with all relevant agencies to facilitate the making of informed and realistic decisions on pricing policies.
  • To moderate volatility in petroleum products prices, while ensuring reasonable returns to operators.
  • To establish parameters and codes of conduct for all operators in the downstream petroleum sector.

 

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