FG Will Modulate Petrol Price Not Subsidy Removal - Politics - Nairaland
Nairaland Forum / Nairaland / General / Politics / FG Will Modulate Petrol Price Not Subsidy Removal (640 Views)
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| FG Will Modulate Petrol Price Not Subsidy Removal by Inca(m): 8:10am On Dec 18, 2015 |
The Nigerian government says contrary to speculations, it is not interested in the removal of subsidy on petroleum products, but rather a price modulation that will reduce its involvement in pricing starting 2016. The Minister of State for Petroleum, Dr Ibe Kachikwu, briefed reporters of the government’s position on Thursday. 97 Naira Per Litre Projection Dr Kachikwu said a periodical review of the Petroleum Pricing Template and a flexible management of the pricing system would be considered. He said the review would allow marketers to trade freely and reflect prevailing international price of crude. According to him, the review will be the key focus in the first quarter of the coming year. He said the 97 Naira per litre projection would be a cap on the price of fuel with a gradual increment between the band of the current price of 87 Naira and 97 Naira until a fair price is reached in the pricing review. The oil-rich nation is currently grappling with one of the worst fuel scarcity the nation has faced in recent time, with some service stations selling petrol higher than the 87 Naira official price. Some service stations have been penalised by the regulatory agencies, but critics have said the agency lacked the manpower to effect adequate monitoring of the marketers activities. http://www.channelstv.com/2015/12/17/fg-will-modulate-petrol-price-not-subsidy-removal/ 1 Like |
| Re: FG Will Modulate Petrol Price Not Subsidy Removal by Andyg: 8:13am On Dec 18, 2015 |
Good, the Govt should have the masses at heart in any decission it took. 1 Like |
| Re: FG Will Modulate Petrol Price Not Subsidy Removal by awomike4u(m): 8:16am On Dec 18, 2015 |
Its well! 1 Like |
| Re: FG Will Modulate Petrol Price Not Subsidy Removal by Nobody: 8:16am On Dec 18, 2015 |
Make una do one first and stop posting us. We are not fools. |
| Re: FG Will Modulate Petrol Price Not Subsidy Removal by tyson99(m): 8:22am On Dec 18, 2015 |
waiting.... |
| Re: FG Will Modulate Petrol Price Not Subsidy Removal by matinex(m): 8:27am On Dec 18, 2015 |
Increasing petrol price now will tantamount to increasing the blood pressure of Nigerians |
| Re: FG Will Modulate Petrol Price Not Subsidy Removal by kettykings: 8:28am On Dec 18, 2015 |
Mumu economist |
| Re: FG Will Modulate Petrol Price Not Subsidy Removal by NextGovernor(m): 8:45am On Dec 18, 2015 |
ok |
| Re: FG Will Modulate Petrol Price Not Subsidy Removal by luvinhubby(m): 8:46am On Dec 18, 2015 |
For those who don't understand, he is simply saying the government will allow markerters to fix petrol price. So what is the difference between that and subsidy removal? APC using big grammar to confuse Nigerians since May 29th 2015 at Eagle square. (5% - 95% after saying 'i belong to everybody'). |
| Re: FG Will Modulate Petrol Price Not Subsidy Removal by Godfullsam(m): 8:47am On Dec 18, 2015 |
Na them sabi.... All I know is if they fail to fulfill their promise we will kick them out like polio in the next four yrs. No time to check time |
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