LAGOS (Sundiata Post) – Spaces for Change (S4C), an advocacy group that works to increase the participation of women, youths and communities in the formulation of social and economic policy, has requested the Petroleum Products Pricing Regulatory Agency (PPPRA) to make full disclose and periodically declare revenues generated from over-recovery earnings from Premium Motor Sprit (PMS) otherwise known as fuel and Household Kerosene (HHK) in the country.
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While the advocacy group revealed that it had submitted a Freedom of Information (FOI) request to the Federal Government – particularly the Petroleum Products Pricing Regulatory Agency (PPPRA) – requesting for the status of over-recovery earnings on PMS and HHK, the group stated that substantiated media reports, including the PPPRA’s pricing template, show that the government is already making N13.81 on every litre of petrol as at Tuesday, February 16, 2016.
S4C pointed out that whereas the Federal Government has reportedly saved N2.6 billion in six weeks as a result of the price modulations, the amount realised from over-recovery remains unknown and undisclosed.
“We further request the periodic disclosure of the funds realized from over-recovery as it is the case with subsidy savings on PMS and HHK. Along these lines, we request to be furnished with relevant documents, reports, and other supporting documentation that will elucidate the extend of savings so far made as a result of the products under review,” Victoria Ohaeri, Executive Director, Space for Change disclosed in a statement sent to Sundiata Post.