The Federal Government on Thursday said the decision to fix the maximum price of petrol at N145 per litre despite the liberalisation of the product’s importation was meant to protect Nigerians.
The Minister of Budget and National Planning, Senator Udo Udoma, said this while fielding questions from State House correspondents at the Presidential Villa, Abuja.
He was asked why the government would still put a peg on the price when he had already thrown the market opened for individuals or corporate bodies to source for forex and import the product.
But Udoma explained that the decision was taken to protect Nigerians from private operators who might want to be charging roof top prices.
He said the measure was to be in place until the market stabilises.
He expressed the conviction that once the market stabilises, the price of petrol would be lower than the current N145 per litre peg.
He said, “The price ceiling is a short time measure to protect Nigerians before the market stabilises.
“This is because it is possible for private operators to take price to any level.
“We however expect it to stabilise, and once that is achieved, the price will still be lower than that N145.” Click to signup for FREE news updates, latest information and hottest gists everyday
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This is classic confusion. If Government is deregulating, there is no need for pegging the price. If Government was unable to ensure compliance with the the former price peg of N86.50, how is it going to enforce the new price. The reality is that before the new price, private operators were selling at between N120 and N130 per liter in Jos but as soon as the price was pegged at N145, they jacked theirs to N180. So how is government protecting Nigerians as claimed? It ai increasingly becoming clear that APC is now an ALL PROMISES CANCELLED PARTY. The common man who overwhelmingly voted the party into power is now being broken into pieces. Well, 2019 is inching closer by the day!!
ReplyDeleteDon't worry. The price will be lower than #145 per litter when the market stabilizes. We will be paying something like #144.46
DeleteCheer up
How do you claim to protect a poor person by increasing his hardship??? We can't be deceived further. You have all failed us. How did you arrive at #145 if you had added tge #12 subsidy to the #87, we are supposed to have a total of #99. Olorun a fi iya je gbogbo yin soonest. Shame on our Leaders especially this present one.
ReplyDelete#GodWillFight4Us#
This govermnent is a Scamer on Nigerians'with their zero idea and nothing to offer Nigerians, only promises fail
ReplyDelete