Petroleum Products Pricing Regulatory Agency (PPPRA) established in 2003, is a governmental organisation tasked with the responsibility to attain a strong, vibrant downstream sub-sector of the petroleum industry, where refining, supply, and distribution of petroleum products are self-financing and self-sustaining.
PPPRA's major functions are :
- To determine the pricing policy of petroleum products;
- To regulate the supply and distribution of petroleum products;
- To create an information databank through liaison with all relevant agencies to facilitate the making of informed and realistic decisions on pricing policies;
- 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 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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