FG Denies Reducing Petrol Price To N162

The Muhammadu Buhari-led government on Monday noted that it has taken a back seat in the reduction of petrol price in Nigeria.

The Minister of Labour and Employment, Chris Ngige, stated this while speaking at the Old Banquet Hall, Presidential Villa Abuja during the inauguration of the bipartite plus technical committee on Premium Motor Spirit, PMS, pricing framework on Monday.

The media office of the Minister quoted him as saying that the government did not fix the new PMS pump price that took off in the country on Monday.

The Minister noted that the new N162.44k fuel price was arrived at from the commercials like demurrage, transshipment and storage.

“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.”

Naija News had earlier reported that the last meeting between the Federal Government and organised labour, represented by the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC), held on December 7, 2020, agreed to lower the PMS pump price by N5, with effect from today, Monday, December 14, 2020.