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PRESS RELEASE

THE PRESIDENCY PETROLEUM PRODUCTS PRICING REGULATORY AGENCY Plot 1631 Sankuru Close, off Rima/Gurara Streets, Maitama, P.M.B. 609, Garki Abuja. Tel: 234-9-4138613, 4138614. Fax: 4138654. E-mail: info@pppra-nigeria.org Liberalisation Of The Downstream Market     I am directed to notify you that after the 25th September, 2003 meeting of PPPRA, the attached communiqué was issued. In effect, the liberalisation and deregulation of the downstream sector of the petroleum industry shall commence with effect from 30th September, 2003. The price ceilings on petroleum products conveyed in our letter of 8th July 2003 shall hereafter lapse. SIGNED: Oluwole Oluleye, Ph.D. Exeecutive Secretary September-29-03