Nigerian Governors perfect plans to fleece hapless fuel consumers
LPetroleum ministry says no price increase Governors propose N385 new petrol price FAAC to gain between N1.3 trillion-N2. 2.3 trillion/ annum agos — Nigerian governors have perfected plans to fleece hapless fuel consumers and this is contained in a recommendation for the increment of price of Premium Motor Spirit, PMS also known as petrol to N385 per litre, SweetcrudeReports has learnt.
However, the Minister of Petroleum Resources, Timipre Sylva has given an assurance that the government does not plan to increase the price of petrol.
The assurance was contained in a statement he released, noting that, “Once again, it has become necessary to assure Nigerians that despite the huge burden of under-recovery, the Federal Government is not in a hurry to increase the price of Premium
Motor Spirit (petrol) to current market realities.
During a virtual meeting by the Nigerian Governors’ Forum, NGF on Wednesday, all the 36 states governors, after considering a report of a committee headed by Kaduna State Governor, Mallam Nasir elRufai, accepted its recommendation that backs full deregulation of petrol, and suggested that pump price should be around N385 per litre.
If the new price is approved by the National Economic Council, NEC which intends to meet today, the Federal Account Allocation Committee, FAAC stands to gain between N1.3 trillion and N2. 2.3 trillion per annum.
Funds raised through the FAAC are usually shared monthly among