- The Minister of Finance, Budget and National Planning, Zainab Ahmed, has said that the price of Premium Motor Spirit otherwise known as petrol will go higher from its present N165 if the price of crude keeps increasing.
- Ahmed stated that the Federal Government (FG) will allow the price of petroleum to be determined by the market forces in line with the deregulation of the oil sector.
The Minister of Finance, Budget and National Planning, Zainab Ahmed, has said that the price of Premium Motor Spirit otherwise known as petrol will go higher from its present N165 if the price of crude keeps increasing.
The minister made this known on Monday in an interaction arranged by the Presidency Media team and State House reporters on Monday.
Ahmed stated that the Federal Government (FG) will allow the price of petroleum to be determined by the market forces in line with the deregulation of the oil sector.
She said, “We simply cannot afford the subsidy, we don’t have the money to pay for subsidy.
“We do recognise that there will be some increased hardships on a segment of society. But we are looking at how to address that.”
It would be recalled that the Petroleum Products Pricing Regulatory Agency (PPPRA), earlier this month, created a national uproar when it released the price template for petrol for the month.
The template, which indicated that the retail price would be increased to N212 per litre from N162-N165, was also rejected by the labour unions in the country.
YOU MAY ALSO LIKE
List Of Top 11 Crucial Appointments Buhari Has Made In Year 2021
Senate Okays Tinubu’s Bill To Reform NIPOST
Advertise or Publish a Story on EkoHot Blog:
Kindly contact us at [email protected]. Breaking stories should be sent to the above email and substantiated with pictorial evidence.
Citizen journalists will receive a token as data incentive.
Call or Whatsapp: 0803 561 7233, 0703 414 5611
