The Federal Government has pledged that it will ensure that fuel subsidy, which was recently removed, does not re-emerge.
The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, and the Central Bank of Nigeria Governor, Mr Godwin Emefiele, made the pledge in a letter to the Managing Director of the International Monetary Fund, Mrs Kristalina Georgieva.
The Petroleum Products Pricing Regulatory Agency further announced on March 31 a price band of N123.50-N125 per litre. The Chairman, Major Oil Marketers Association of Nigeria, Mr Tunji Oyebanji, said market operators remained uncomfortable with pump prices being fixed by fiat.
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