Contrary to recent speculations, there will be no increase in fuel price by April 1st, a PPPRA official recently disclosed to the News Agency of Nigeria (NAN) this past Friday.

I can tell you categorically that there is no plan by the Federal Government to increase the price of fuel on April 1 or any time.

It is a rumour. Provisions for subsidy have already been made in the 2012 budget, and as such, there is no plan to fully deregulate the downstream sector in 2012, he said.

According to him, “the Committee on subsidy probe is due to submit its report next week. The nation is anxiously waiting for that report. It will be unthinkable to suggest that government intends to increase the price of fuel.”

Already, fuel queues have started building up in some parts of the country as Nigerians anticipate an increase in fuel price come April 1st.

http://www.cp-africa.com/2012/03/31/fuel-subsidy-removal-increase-in-fuel-price-by-april-1-no-says-pppra-official/

Senators meet, back N65 petrol pump price

JANUARY 11, 2012 BY ADEMOLA BABALOLA, OLUWOLE JOSIAH, ADELANI ADEPEGBA AND OLALEKAN ADETAYO

Anytime from now, the Senate may ask President Goodluck Jonathan to postpone the implementation of the removal of the subsidy on petrol till April, THE PUNCH has learnt. If Jonathan accedes to the request, the pump price of petrol will automatically revert to N65 per litre.

Our correspondent learnt on Tuesday that the Senate, at a closed-door meeting resolved to tell President Jonathan to reverse the removal of subsidy on petrol.

Sources at the meeting told our correspondent that the senators expressed worries about the way the strike and protests had grounded social and economic activities on the first two days.

The senators consequently agreed to tell the President to suspend the policy until the government has implemented all the palliatives it has promised.

At an emergency plenary on Sunday, the House of Representatives had asked Jonathan to suspend the subsidy removal, saying that Nigerians were not willing to accept the removal for now. The Presidency had, however, responded that the resolution was a mere opinion that was not binding.



‘Subsidy in 2011 budget’

A senator who attended the Senate’s emergency meeting told one of our correspondents that the upper chamber would send a delegation to meet with the President on its decision before the close of Tuesday.

The Senator who pleaded anonymity said, “The Senate agreed that the President should suspend the removal of subsidy until all the palliatives have been put in place. Besides, the 2011 budget, which provided for the payment of subsidy, is still in force and it will expire on the 31st of March 2012.

“So legally, the President needs to abide by the provisions of the law. We are expecting that by the end of March, all the palliatives would have been in place and the issues would have been discussed and agreed upon before the implementation of the policy.” .. . . .

The 'rumour' was not unfounded.