Federal Government reiterates stance on petrol price

AISHA ADESHINA

Federal Government again on Friday, rejects Governor’s proposal on pump price, insists that no decision on the adjustment of petrol price would be reached until the ongoing negotiations with the organised labour were concluded.

The Governors’ advice, chaired by Kaduna State Governor, Malam Nasir El-Rufai, based on the report of the committee to shoot petrol price up to between N380 and N408.5 per litre and removing fuel subsidy, was first rejected by the Federal Government on May 21.

Gov. El-Rufai, while presenting the report of his committee to the NGF, explained that the current subsidy regime was unsustainable because smugglers and illegal markets in neighbouring African countries were the beneficiaries.

But the Minister of State for Petroleum Resources, Chief Timipre Sylva, in a statement, insists, the current petrol price of between N162 and N165 per litre would retain until the ongoing negotiations with the organised labour is concluded.