Tuesday, August 16, 2022

‘Petrol To Remain At ₦162 Per Litre Until’… – FG Breaks Silence On Increasing Fuel Price

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The Federal Government has stated that the pump price of petrol will remain N162 per litre until it reaches an agreement with the Organised Labour for full deregulation of the downstream petroleum sector.

Timipre Sylva Blames Hike Fuel Price On COVID-19 Vaccine
This was stated on Tuesday by the Minister of State for Petroleum Resources, Chief Timipre Sylva while speaking with reporters in Abuja.

According to Sylva, President Muhammadu Buhari will shed more light on the Petroleum Industry Bill (PIB) on Wednesday.

He however noted it is now constitutional for Nigeria to deregulate the oil and gas sector.

“I cannot give you a timeline now. But it is not going to be too long from now, because we have done quite a lot of extensive work.

Read Also: FG Will Not Undertake New Capital Projects In 2021- Zainab Ahmed, Finance Minister

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“So we will keep it here at N162 within that band now for the time being but we are also in the time at the moment trying to work out to allow the deregulation to come to fruition,” Sylva said.

Also Read:  ''I Need A PA And A Personal Nanny For Myself - Tonto Dikeh

Photo Credit: Getty

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