PPPRA REVISED GUIDELINES FOR THE ADMINISTRATION OF PETROLEUM SUPPORT FUND (PSF)
Guideline · Trade
Policy date: 2023-05-01
Guidelines govern the administration of the Petroleum Support Fund for subsidizing petrol costs through claims processing and disbursements. They target petroleum marketers, importers, and government agencies to ensure transparent and efficient fund management. This prevents misuse and maintains fair pricing for consumers.
PPPRA REVISED GUIDELINES FOR THE ADMINISTRATION OF PETROLEUM SUPPORT FUND (PSF)
What Is This Policy?
Guidelines governing how the Petroleum Support Fund — the mechanism through which the Federal Government subsidised the cost of petrol below market price — was administered, including claims processing and disbursement to marketers.
Who Does It Target?
Petroleum product marketers and importers PPPRA as the administering agency The Federal Ministry of Finance as the fund controller NNPC as the primary importer
What Does It Aim to Achieve?
Ensure transparent, accountable, and efficient administration of the petrol subsidy fund by establishing clear eligibility criteria, verification procedures, and payment timelines for subsidy claims.
Key Features
Eligible Products: Specifies which petroleum products qualify for PSF support, primarily Premium Motor Spirit (PMS). Claims Process: Prescribes the documentation and verification requirements for subsidy claims by eligible marketers. Certification: Claims must be certified by DPR (now NMDPRA) following inspection of product volumes. Payment Timeline: Sets timelines within which verified claims must be processed and paid by the Ministry of Finance.
Current Status
Rollout Stage: Scheme wound down following removal of petrol subsidy in May 2023 Coverage: Petroleum product import and distribution industry Beneficiaries: Historical - petroleum consumers benefited from subsidised pump prices Funding: Federation Account
How to Access
Historical guidelines - the PSF scheme is no longer operational For legacy claims: engage PPPRA and the Ministry of Finance Application method: Legacy claims: contact PPPRA for outstanding claims processing.
Important Terms
The PSF scheme was formally ended when petrol subsidy was removed in May 2023 Outstanding subsidy claims from before removal are being verified and settled by NNPC and the Ministry of Finance Fraudulent claims against the PSF are subject to prosecution
Official Resources
Website: https://www.pppra.gov.ng Contact: Petroleum Products Pricing Regulatory Agency (PPPRA) / Ministry of Finance
Legal Framework
The PPPRA Revised Guidelines for the Administration of the Petroleum Equalisation Fund are issued under the Petroleum Products Pricing Regulatory Agency Act and the Petroleum Equalisation Fund (Management Board) Act. They operate alongside the Petroleum Industry Act 2021 (transition provisions for downstream pricing) and the Federal Competition and Consumer Protection Act 2018. The guidelines align with the downstream petroleum pricing liberalisation framework and the National Gas Flare Commercialisation Programme objectives.