FG Set To Increase Pump Price Of Petrol To Over 145 Per Litre Quietly

According to today Premium Times, there are indications that the federal government is about to increase the petrol price following the deregulation of the downstream sector of the Nigeria petroleum industry

This is in line with officials whom hinted that the policy may push the worth of petrol to #145 per liter at NNPC stations.

Steps have been taking to forestall the backlash which greeted the 2012 increase by the Goodluck administration, to this end, no formal announcement will be made and government seems to possess with success wooed organized labour and its affiliate unions to its facet.

With full deregulation of the downstream sector, government will withdraws subsidy whereas paving ways for private marketers to enter the business, under this situation, the pump price of fuel is determined by economic process and governments acts solely as a regulator.