The Presidency has absolved itself from the recent increment in the pump price of petroleum.
This follows an upward review of the pump price to 162 per liter.
Speaking on the increment on Thursday, September 3, the ministry of petroleum resources, Timipre Sylva disclosed that the Buhari administration is no longer fixing the pump price of petroleum products in the country.
According to the FG, the current increase in the price of petrol was inevitable because of the COVID-19 pandemic.
The minister told journalists during a briefing that the pump price of petroleum products was being fixed by marketers. He said all the government does is to ensure that marketers do not exploit the consumers.
“Government is no longer in the business of fixing prices for petroleum products, we have stepped back.
“Our focus now is on protecting the interest of the consumers and making sure that marketers are not profiteering,” the minister said.
He stated that it was inappropriate to blame the government for the recent increase in fuel price, explaining that President Muhammadu Buhari would never have allowed an increase in pump price if the decision depended on him.
Sylvia also noted that the recent fuel price increase was inevitable because the COVID-19 pandemic had forced the price of crude oil to zero zone.
Meanwhile, reactions have continued to flow in concerning the increase fuel pump price.
Reacting to the development, Senator Dino Melaye from Kogi State decried the federal government’s order for the increase of petrol price to N151.56 per litre which has already taken effect in some states.
According to Melaye, the move was wicked and insensitive. He further stated that at a time like this, the decision will affect Nigerians negatively.
It will be recalled that a former vice president of Nigeria, Atiku Abubakar, had recently kicked against the hike in electricity tariffs.
His reaction was made known in a statement he posted on Twitter on Thursday, September 3. According to Atiku, what Nigerians need is stimulus and not disregard for their challenges.
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