OVERVIEW OF: Buhari, Govs To Discuss Fuel Pricing Thursday —Ngige
President Muhammadu Buhari is set to meet with state governors on Thursday to discuss the issue of fuel pricing.
The Minister of Labour and Employment, Senator Chris Ngige, disclosed this Sunday night.
This came after a meeting of the Federal Government and the organized labor at the Banquet Hall of the Presidential Villa, Abuja.
Ngige stated that the labor unions had investigated the report of the Technical Committee on Premium Motor Spirit Pricing Framework as agreed at the last meeting and made their submissions alongside the Nigerian National Petroleum Corporation.
The minister said, “The labor side saw that they were making some points and like I said, it is work in progress. Governors are going to discuss this on Thursday.
“They have discussed this at the National Economic Council and so, everybody is involved because we find ourselves in dire straits. There is no money for subsidy.
“The NNPC has explained: What they are doing is import-dependent. Deregulation is import-dependent but they are doing bulk purchasing. So, they can get discounts.
“They are also using a foreign exchange that is discounted for them. They are not buying from the parallel market. So, all these things will be put in a basket and a price will emerge from it.”