fuel priceThe officials have said that the government of President Muhamadu Buhari does not have plans to increase the pump price of petrol despite a demand that it should do so, Premium Times reports. The call for the hike of fuel price was made at the forum of former group managing directors of the Nigerian National Petroleum Corporation (NNPC) on September 4, Sunday.The forum called for the removal of the price capthat would mean that the traders would be free to sell petrol at their desired price, supported by several factors such as the exchange rate and international crude price.With the local currency exchange rate going down by over 50 % to about N412 since the current petrol price was fixed, accepting the recommendation would have meant Nigerians pay more for fuel. Meanwhile, the federal government through the Petroleum Products Pricing Regulatory Agency (PPPRA) stated that that it will not accept the proposal. While informing about the government’s response, the acting executive secretary of PPPRA, Sotonye Iyoyo, said the advice was the personal opinion of the former state oil chiefs. “If it was a recommendation, that is what it is – a personal opinion.I’m not aware government is planning any fuel price increase. We are in a liberalised market already,” she said. Ibe Kachikwu, the minister of petroleum, also denied media reports of possiblehike in the prices of petroleum products in Nigeria. The incumbent GMD of the NNPC Maikanti Baru supported the minister, Vanguard reports. After a closed-door meeting with President Muhammadu Buhari in Abuja, Kachikwu defined the reports as untrue.He asked the state house correspondents after the meeting: “Have you seen any memo to that effect?’’ On his own part, NNPC director said the organization has no plan to increase the pump price of petroleum products, underlining that “there is nothing like that.’’ Meanwhile, he directed the journalists to go to the PPPRA for further explanation on the issue. The oil marketers had shown aim to increase prices of the products, quoting continued scarcity of foreign exchange to finance importation of the products, as reason.
Oh Lord pls help us oh because we are all suffering from president Buhari Reign……….. Father Bring The Right Person That Will Be Able To Transform Nigeria Into A Better Country In Jesus Name………….#AMEN.