EletiofeFG says it is not responsible for the increase...

FG says it is not responsible for the increase in price of petrol

-

- Advertisment -

Currently in Lagos, the product sells between N169 and N185 per litre.

A petrol station in Nigeria (Newsdiaryonline)

Depending on the location of purchase, the price of petrol is currently between N175/litre and N230/litre in Nigeria.

Reason for the new Price Regime: During the recent fuel crisis in the country, oil marketers started selling petrol above the approved N165/litre rate.

As a result, they started selling above the official price of N165/lire, and since they hiked the price, the government has been silent about the disparity in the pump prices of petrol.

FG’s Denial: But the Minister of State for Petroleum Resources, Chief Timipre Sylva, has maintained that the Federal Government has not raised the price of PMS.

The minister while speaking on the sidelines of the stakeholders’ consultation forum on Midstream and Downstream Petroleum Regulations organised by the Nigerian Midstream and Downstream Petroleum Regulatory Authority in Abuja said the increase was probably from petrol marketers.

“The government is still subsidising, if there are increases in the price it is not from the government, it is probably from the marketers.

“But, of course, I will talk to the NMDPRA’s chief executive to ensure that they actually regulate the prices. But this is not from the government because we have not deregulated,” Sylva said.

When asked why the Federal Government had not taken actions against erring marketers for selling above the official price or monitored their activities to ensure they sell at the government-approved price, he replied, “Well, I don’t know about monitoring exercise. But I know that the authority is fully on their job and the queues will be dissipated very soon.”

Currently in Lagos, the product sells between N169 and N185 per litre.

Latest news

A New Tractor Jailbreak Rides the Right-to-Repair Wave

farmers around the world have turned to tractor hacking so they can bypass the digital locks that manufacturers impose...

VOLLEYBALL ROUNDUP: Holliday claims Bev Ball Classic championship

Size doesn’t matter. Ultimately, it’s all about heart and fight. Experience in big battles helps, too, and the Class...

Beatles tribute band off to Liverpool; sports betting in Raynham: Top Taunton stories

Before we begin the new week in earnest, we're taking a look back at the week that was, and...

Flaw in the VA Medical Records Platform May Put Patients at Risk

the U.S. Department of Veterans Affairs runs some interesting technology programs, but it's not known for being a flexible...
- Advertisement -

Kentucky’s John Calipari stands down after rare intra-athletic department feud with Mark Stoops

Is Kentucky a basketball school? Yes. Should John Calipari have said that? Probably not.The Wildcats basketball coach ignited the...

Wedding Professionals And Attendees Are Breaking Down The Cost Of Being In A Bridal Party

You upload a video of the bridal shower to your Instagram story: a cream-colored room with calla lilies, your...

Must read

A New Tractor Jailbreak Rides the Right-to-Repair Wave

farmers around the world have turned to tractor hacking...

VOLLEYBALL ROUNDUP: Holliday claims Bev Ball Classic championship

Size doesn’t matter. Ultimately, it’s all about heart and...
- Advertisement -

You might also likeRELATED
Recommended to you