Friday 16 February 2018

Fuel Scarcity: FG gives mixed signals on possible price increase


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Two government officials on Thursday gave diverse indications on what government is considering to resolve the current petrol scarcity.

While a state governor who briefed journalists after a meeting presided by Vice President Yemi Osinbajo hinted at a possible price increase, the Minister of State for Petroleum said such was not being contemplated.

The federal government and the state-owned NNPC have repeatedly vowed that there was no plan to increase the N145 per litre official price of the product despite the scarcity. This is despite the fact that most Nigerians across the country pay about N200 per litre to buy the scarce commodity.

An indication of the possible price increase was provided by a state governor who briefed journalists at the end of the National Executive Council, NEC, meeting. The meeting, attended by most state governors, was presided by Vice President Yemi Osinbajo.

Governor Mohammed Abubakar of Bauchi told journalists that the NEC asked one of its committees, interfacing with revenue agencies in the country, to work on getting the correct price for petroleum products.
He said the committee is headed by the Governor of Gombe State, Ibrahim Dankwambo.

Mr. Abubakar said the committee “has been charged with the responsibility of interfacing with NNPC with a view to determining the correct price for PMS (petrol) considering the price of the product especially in countries that are bordering Nigeria.”

The Bauchi governor said the NEC realised that the price differential between Nigeria and her immediate neighbours is one of the reasons why the product is being smuggled thereby causing its scarcity in the country.


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