CHRISTMAS PREPARATION! ! ! See What FG Is Planning To Do For Nigerians Ahead Of Yuletide Season


As Christmas draws near, the federal government of Nigeria has promised to do something drastic concerning the unreasonable increase in the cost of cooking gas in the country

This, the government said will alleviate the pains of Nigerians, especially now that the yuletide season approaches, Dailypost reports.

Interestingly, the federal government also dismissed reports of a planned hike in fuel prices as the Chief Executive Officer of the Midstream Petroleum Regulatory Authority, Farouk Ahmed, debunked the news.

Farouk who made this position known on Tuesday in Abuja, noted that the marginal queues being witnessed at filling stations in Abuja and some parts of Nigeria had nothing to do with any supposed plan by the government to hike PMS prices.

According to Dailypost, Farouk also fielded questions from State House Correspondents alongside Gbenga Komolafe, who is the newly appointed Chief Executive Officer of the Nigeria Upstream Petroleum Regulatory Commission (NUPRC),

On the rumours of a planned increase in fuel price, Farouk said, ” Basically, what happened is that some of the depot owners selling Premium Motor Spirit above the official ex- depot price of N148 are selling at N156 or N157.

” The reason is that they’ re paying for their logistics like shipping and Port charges and Nigerian Maritime Administration and Safety Agency (NIMASA) charges in US dollars and they’ ve to go to the parallel market to source for the dollars.

” The differential between the official exchange rate and the parallel market is their reason for adding between N9 and N10.

” But we had a meeting on Tuesday, November 9, and the heads of the Nigeria Ports Authority and NIMASA, as well as other stakeholders, were all there, and it was resolved that NNPC excess capacity vessels would have chattered to oil marketing companies and they would be charging in Naira.

” I believe with these, there’ ll be no reason for the depot owners to increase their price beyond the official selling price of N148. ”

What’ s your opinion on the federal government’ s decision to take action on the rising fuel price?


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