Panic as Nigerian Governors' Forum Recommends New Price of Petrol

Panic as Nigerian Governors' Forum Recommends New Price of Petrol

- A Nigerian Governors' Forum (NGF) committee has recommended N408.5 litre as the appropriate price of petrol per litre

- The committee, however, said the government can reduce the price to N380per litre in case the labour unions protest

- An immediate removal of fuel subsidy was also recommended by the El-Rufai-led committee

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A committee set up by the Nigerian Governors' Forum (NGF) has reportedly recommended a petrol price of between N408.5 and N380 per litre.

The Punch reported that the committee also called for immediate removal of fuel subsidy.

Panic as Nigerian Governors Forum Recommends New Price of Petrol
A committee set up by the NGF recommended a petrol price of between N408.5 per litre and N380 per litre. Photo credit: nggovernorsforum.org
Source: UGC

Legit.ng gathers that the committee made the recommendations in its report submitted during a virtual meeting of the Nigeria Governors’ Forum on Wednesday, May 19.

Governor Nasir El-Rufai of Kaduna state who is the chairman of the committee explained that the current subsidy regime was unsustainable.

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According to him, smugglers and illegal markets in neighbouring African countries are the ones benefitting from the subsidy.

The committee recommended that the removal of subsidies should be immediate to save the nation’s economy.

El-Rufai noted that Nigeria, like other oil-producing countries, agreed to cut production to keep the prices high but that Nigeria could not fully benefit from the regime because of subsidies.

The committee recommended N408.5 litre as the appropriate price. However, in the circumstance with concessions to labour unions, N380 per litre could be the minimum, it advised.

El-Rufai said the move was necessary to free funds for critical projects and payment of other obligations.

Nigerians react

Adeyeye Gbenga Olabode said:

"N380 per litre. I hope all eyes are getting clear now..
"Those of you who brought UNDEFINED CHANGE, you see your lives now and you see the calamity you have brought upon this Nation."

Abubakar Labaran said:

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"N380 per litre would make people to start mother of all protests and that protest would end the reign of this brutal government. Government should tread slowly about anything that can plunge this country on fire."

Olutunji Timothy said:

"Then, someone should prove to me if the payment of subsidy is very true. Hear me again, there is no fuel subsidy. Government only increases the pump price to get more money and to further exploit Nigerians."

Idris Ismaila said:

"After you sack almost all the workers in your state where would they get money to buy fuel at 380/litre, surely this El Rufai is wicked"

Olumuji Olaoluwa Oluseyi said:

"N380/litre!These people are punishing the people!This is no longer governance but complete tyranny!"

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Earlier, Legit.ng reported that the Nigerian government had stated that there would be no increment in the pump price of petrol until the organised labour was consulted.

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Timipre Sylva, minister of state for petroleum resources, made the statement when addressing journalist in Abuja on Friday, March 12.

Sylva’s statement was in reaction to the pricing template published by the Petroleum Products Pricing Regulatory Agency (PPPRA) which pegged the pump price of petrol at N212.61 per litre.

In another related report, the Nigerian government had earlier said it was aiming to bring down the price of fuel below N100 per litre.

Ita Enang, President Buhari's senior special assistant on Niger Delta Affairs, said this during a press conference on Tuesday, March 9.

Source: Legit

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