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Buhari Turns Down Marketers Request On Fuel Price Increase

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The pump price of petrol will remain at N145 per litre, according to a Federal Government reply to a request by oil marketers to jack up the pump price.

In the wake of the fuel scarcity crisis in the country, oil marketers had reportedly demanded a pump price increase, total deregulation of petroleum products, and payment of outstanding subsidy claims to the marketers by the Federal Government.

According to The Nation quoting undisclosed sources, President Buhari rejected the demands for increase in pump price and return to a subsidy regime.

The president reportedly rejected the price increase because of the spiral effects it has on the nation’s socio-economic life.

The Federal Government had reportedly offered (1) Creation of special window for Forex from CBN, (2) Presentation of request for payment of outstanding subsidy to National Assembly, (3) Creating opportunity for the establishment of modular refineries, and (4). No return to era of fuel subsidy.

For at least a week, many Nigerians have had to queue endlessly for fuel that they end up buying for twice or three times the pump price, while many commuters have had to pay exorbitant fares or walk long distances to get to their destinations.

The Federal Government is said to be working to end the crisis by checkmating the activities of saboteurs, and ending disruption to the supply chain by putting all the nation’s 23 depots in perfect shape.

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image Posted On : December 24, 2017

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