Fuel price: Again, FG rejects govs’ N380/litre proposal - Punch Newspapers
, the Federal Government again on Friday reiterated its stance, insisting that no decision on the adjustment of petrol price would be reached until the ongoing negotiations with the organised labour were concluded.
But the Minister of State for Petroleum Resources, Chief Timipre Sylva, in a statement, said the current petrol price of between N162 and N165 per litre would stay. “This clarification becomes necessary in the light of recent reports regarding the resolution of the Nigeria Governors’ Forum to increase the pump price of petrol.”
“When it is stopped, the prices of petroleum products will be determined by market forces and this will create competition and lead to an increase in product availability,” he argued. Muhammad said people were free to make analyses and recommendations but stressed that the government’s position on petrol price had not changed.
Asked when the negotiations would possibly be concluded, Muhammad stated that the deadline was not completely dependent on the Federal Government. He said, “Of course, everybody would have their perspective, but from where I sit, I believe that subsidy removal is the best thing for Nigeria, not just for the industry. Discussions with the stakeholders are still ongoing.
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