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Nigerian Government Says It Did Not Fix The New Price Of Petrol

FG says it did not fix the new price of petrol

– The federal government has reacted to reports which suggested that it is involved in regulating the price of petrol

– Chris Ngige, Nigeria’s minister of labour and employment spoke about the circumstances surrounding the new fuel price regime

– The minister also revealed the factors that affected the recent pricing of the commodity

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The federal government has disclosed that it did not fix the new price of petrol in the country which took effect on Monday, December 14.

The minister of labour and employment, Chris Ngige explained that the new price came about from the commercials like demurrage, transhipment and storage, Vanguard reported.

FG says it did not fix the new price of petrol

Chris Ngige addressing the press at an event.
Photo: @LabourMinNG
Source: Twitter

He stated that the Nigerian government is no more involved in the business of regulating petrol pricing.

Ngige was reported to have made the statement at the presidential villa after he inaugurated the bipartite plus technical committee on Premium Motor Spirit (PMS) pricing framework.

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The minister said:

“Make no mistake about it. Government has taken the backseat. Government did not fix the price that took off from today. It was a price reduction gotten from the commercials like demurrage, transshipment and storage. This Committee is expected to do more to enthrone transparency in the area.”

He stated that the need to bring relief to the Nigerian people and consumers prompted the price reduction price from N168,000 per litre to N162.44k per litre.

In another news, the ongoing strike embarked upon by the Academic Staff Union of Universities (ASUU) may not end soon due to the reported differences between Chris Ngige, and the leadership of the union engaged in verbal war.

The Nation reported that the minister on Tuesday, December 8, faulted claims of the ASUU president, Prof. Biodun Ogunyemi, who blamed the federal government for the union’s failure to call off the strike.

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Ogunyemi noted that the lecturers would not return to classes until their salary arrears were paid, adding that the government had failed to deliver on offers made to the union.

Meanwhile, President Muhammadu Buhari has commended Nigerians and the organised labour for the patience they have shown the administration amid the current economic challenges.

The president also encouraged Nigerians to adopt gas as an alternative to petrol.

A presidential aide, Femi Adesina disclosed in a statement that Buhari made the comment on Tuesday, December 1, at a virtual event to unveil the National Gas Expansion Programme and National Autogas Roll-out Initiative.

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