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We Didn’t Increase Petrol Price, Marketers Did –FG | Lifestyle ,Gossip & Entertainment
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We didn’t increase petrol price, marketers did –FG

petrol price hike1

The 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.

It said the hike in the cost of the commodity, currently between N175/litre and N230/litre, depending on the location of purchase, was done by oil marketers. The government, however, could not explain why it was not enforcing the approved price.

Oil marketers across the country recently raised the price of petrol above the approved N165/litre rate without any official approval by the government. This was despite the fact that the cost of commodity was still being regulated.

The marketers had argued that the N165/litre approved price was not sustainable and was contributory to the scarcity of petrol in many locations nationwide.

They eventually hiked the pump price of petrol and had maintained the price increase for several weeks running without any resistance by the government.

Speaking on the sidelines of the stakeholders’ consultation forum on Midstream and Downstream Petroleum Regulations organised by the Nigerian Midstream and Downstream Petroleum Regulatory Authority in Abuja, the Minister of State for Petroleum Resources, Chief Timipre Sylva, insisted the government had not raised the price of PMS.

Asked to comment on the disparity in the pump prices of petrol and why the government had not waded into the matter, the minister said, “Well, 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 probably from the marketers.

Fuel price hike: Civil servants seek salary increase – The Sun Nigeria

“But, of course, I will talk to the NMDPRA’s chief executive to ensure that they actually regulate the prices. But this is not from the government because we have not deregulated.”

Probed further to explain why no action had been taken against the marketers and why there had been no monitoring exercise to enforce the government approved price, Sylva replied, “Well, I don’t know about monitoring exercise.

“But I know that the authority is fully on their job and the queues will be dissipated very soon.”

Fuel price hike in 2021 | Automotive Market | auto sector | fuel price in  india

On the essence of the forum, the Chief Executive, NMDPRA, Farouk Ahmed, said the programme was in accordance with the demands of the Petroleum Industry Act to allow stakeholders participate in the making of regulations which impact on them.

He said, “Section 216 of the PIA mandates the authority to ‘consult with stakeholders prior to finalising any regulations or amendments to regulations’.

“However, we do not consider this an obligation or box-ticking exercise as continuous engagement with our stakeholders to enable their business is at the core of our regulatory philosophy.”

Ahmed said the regulator had so far published and received significant feedback on the 10 regulations to be considered, as he outlined the pm to include the Petroleum (Transportation and Shipment) Regulations; Assignment and Transfer of Licence and Permit Regulations; and Midstream and Downstream Petroleum (Operations) Regulations.

Others include the Petroleum Pipeline Regulations; Gas Pricing Domestic Demand and Delivery Regulations; Natural Gas Pipeline Tariff Regulations; and Midstream and Downstream Decommissioning and Abandonment Regulations.

He named the remaining to include the Environmental Regulations for Midstream and Downstream Operations; Midstream and Downstream Gas Infrastructure Fund Regulations; and Environmental Remediation Funds Regulations.

Ahmed assured industry stakeholders that their inputs as regards the regulations during the forum, would be taken seriously, adding that the aim was to grow the Nigerian oil sector.

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  218. With havin so much content and articles do you ever run into any problems of plagorism or copyright violation? My site has a lot of exclusive content I’ve either created myself or outsourced but it looks like a lot of it is popping it up all over the web without my agreement. Do you know any solutions to help protect against content from being ripped off? I’d truly appreciate it.

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  226. Hey! I know this is kind of off-topic but I had to ask. Does building a well-established blog like yours take a massive amount work? I’m completely new to operating a blog but I do write in my diary on a daily basis. I’d like to start a blog so I can share my own experience and views online. Please let me know if you have any suggestions or tips for new aspiring bloggers. Appreciate it!

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  234. Hey I know this is off topic but I was wondering if you knew of any widgets I could add to my blog that automatically tweet my newest twitter updates. I’ve been looking for a plug-in like this for quite some time and was hoping maybe you would have some experience with something like this. Please let me know if you run into anything. I truly enjoy reading your blog and I look forward to your new updates.

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  237. Heya! I realize this is somewhat off-topic but I had to ask. Does operating a well-established blog like yours take a massive amount work? I’m completely new to blogging but I do write in my diary everyday. I’d like to start a blog so I will be able to share my experience and thoughts online. Please let me know if you have any suggestions or tips for new aspiring bloggers. Appreciate it!

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  243. Today, I went to the beach with my kids. I found a sea shell and gave it to my 4 year old daughter and said “You can hear the ocean if you put this to your ear.” She put the shell to her ear and screamed. There was a hermit crab inside and it pinched her ear. She never wants to go back! LoL I know this is entirely off topic but I had to tell someone!

  244. Hey! I know this is kinda off topic however I’d figured I’d ask. Would you be interested in exchanging links or maybe guest writing a blog article or vice-versa? My site goes over a lot of the same subjects as yours and I feel we could greatly benefit from each other. If you happen to be interested feel free to send me an e-mail. I look forward to hearing from you! Excellent blog by the way!

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  246. Hey I know this is off topic but I was wondering if you knew of any widgets I could add to my blog that automatically tweet my newest twitter updates. I’ve been looking for a plug-in like this for quite some time and was hoping maybe you would have some experience with something like this. Please let me know if you run into anything. I truly enjoy reading your blog and I look forward to your new updates.

  247. Having read this I thought it was really informative. I appreciate you taking the time and effort to put this article together. I once again find myself spending way too much time both reading and leaving comments. But so what, it was still worth it!

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