Amidst criticism and looming labour action, as a result of the new price policy, fact have now emerged on factors that influenced government’s decision to jerk up the pump price to N145.

According to Guardian, a policy document obtained in Abuja yesterday revealed that renewed insurgency and vandalism in the Niger Delta region which have drastically reduced crude oil production to 1.65 million barrels per day, reduction of money accruing to the Federation Account as well as crude volumes for petrol conversion, which is also impacting Federal Government foreign exchange earnings, were responsible.

The document read in part: “Renewed insurgency and pipeline vandalism in the Niger Delta has drastically reduced national crude oil production to 1.65 million barrels per day as at today, against 2.2 million barrels per day planned in the 2016 budget. Further reduction in income to Federation Account is also affecting crude volumes for PMS conversion and impacting foreign exchange earnings.”

The document also stressed that the resultant fuel scarcity created an abnormal increase in price, resulting in Nigerians paying averages of N150–N300 per litre as prevalent hoarding, smuggling and diversion of products, have reduced volumes made available to citizens.

Nigerians have begun to adjust to the new realities of petrol price adjustment with many of the filling stations immediately adjusting their pump and price display to between N140 and N145 per litre.

Already, the six months old queue has automatically vanished at some filling stations about 24 hours after the announcement and marketers have immediately effected new prices and are magically selling from all pumps, as against the initial method of rationing.

Source: http://olumoonline.com/2016/05/13/militancy-insurgency-are-the-main-reasons-why-fg-increases-the-price-of-fuel/

Lie

Big lie!

Failure always has a brother or partner called excuse.

Blatant white lie!

This is the headache work of joblessness bros go and find something and do

whose job is it in the first place t stem militancy? Buhari is even more clueless than I thought

the government of blame never cease to blame.

Rubbish

My concern is for FG to return everything back to Normal. Market commodities are already selling at exorbitant price. And with this current increase in fuel price, Average Nigerians will find it difficult to purchase Ordinary Maggie Not to think about Transportation fare.
Every thing will Triple in price.

I wonder how the removal of fuel subsidy will reduce the price of Goods in the market.

I weep for the unknown future of Nigeria!

THOSE PEOPLE CLAPPING FOR THE NDA hope you also enjoy the effect it has on your fantastically corrupt lives

If you quote me and talk trash, thunder will use you as an example.

OP you are a stack APC liar and apologist. The very inept government under Buhari has never failed to adopt the blame game whenever issues like this crop up. So please stop being delusional and face reality. if you want to hear the hard truth, I'll oblige you: Nigeria is on a very long thing and buhari abi Bugatti will always get it wrong. you can go and ask IBB if you like.

Militancy and insurgency? Haa! Isnt it suppose to be GEJ

989900:
The truth!

You can't be cheering pipeline and oil installation vandals on and expect to get cheaper fuel.

You can't be cheering pipeline and oil installation vandals on and expect to get cheaper dollar.

You can't be cheering pipeline and oil installation vandals on and expect to get peace and security.

You can't be cheering pipeline and oil installation vandals on and expect to get foreign investors (BH in the NE, militants in the SS, 'IPOD' in the SE . . . throw in Fulani herdsmen . . . would you invest your funds in such country if you were a foreigner?).

You can't be cheering pipeline and oil installation vandals on and expect to get good roads, power supply, and other necessities.

You can't be cheering pipeline and oil installation vandals on and expect to get jobs.

You can't be cheering pipeline and oil installation vandals on and not expect inflation.

These things work in tandem -- you can't eat your cake and have it.

Spot on!!!

They should keep destroying their region and expect a better Nigeria.

Before they know it, Nigeria has left them all behind.