FG insists on price control amid 12 new oil regulations

Timipre Sylva. twitter/HETimipreSylva, yesterday, said cost of the product is still being regulated, even as it blamed marketers for the price increase.

Some of the regulations are Petroleum Regulations, Assignment and Transfer of Licence and Permit Regulations, Midstream and Downstream Petroleum Regulations, Petroleum Pipeline Regulations, Gas Pricing Domestic Demand and Delivery Recall that the price control for petroleum products, especially petrol and gas, has been a disincentive for many investors, and a major reason Nigeria’s petroleum industry has been unable to make significant impact in Gross Domestic Product .

He said: “I can tell you authoritatively that we have not deregulated. The government is still subsidising. If there are increases in the price, it is not from the government. It is properly from the marketers.”

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We didn’t increase petrol price, marketers did –FGThe Federal Government on Monday insisted that it had not raised the pump price of Premium Motor Spirit, popularly called petrol, above the regulated cost of N165/litre. Amen Are you not the one that push them to increase it.. That is because ,the FG herself Failed As Government .
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