Global News

Expect A Further Increase In The Price Of Petrol – President Buhari

Expect A Further Increase In The Price Of Petrol – President Buhari (Updated: 2 years ago)


President Muhammadu Buhari, has asked Nigerians to expect a further increase in the price of petrol, stating that people would pay more as soon as the price of crude oil in the international market recovers.

The president made this known at the First Year Ministerial Performance Review Retreat at State House Conference Centre, Abuja, on Monday, September 7, 2020.

Speaking through his representative, Vice-President Yemi Osinbajo, the president said: “The COVID-19 pandemic, which has affected economies globally, has compelled us to make some far-reaching adjustments that may cause some initial pain, but which is necessary for long-term gains.

As you all know, when oil prices collapsed at the height of the global lock-down, we deregulated the price of premium motor spirit, PMS, such that the benefit of lower prices was passed to consumers.

This was welcome by all and sundry. The effect of regulation though is that PMS prices will change with changes in global oil prices. This means, quite regrettably, that as oil prices recover, we would see some increases in PMS prices.”

Tags

Add a coment

Recent Posts

Buju
Buju
Qdot
Qdot
Wale Turner
Wale Turner
Yung Effissy
Yung Effissy
Mr Real
Mr Real
Ceeboi
Ceeboi
Rema
Rema
Victor AD
Victor AD
BNXN
BNXN
MasterKraft
MasterKraft
Ozzybee
Ozzybee
Portable
Portable
Kwesi Arthur
Kwesi Arthur
Seyi Vibez
Seyi Vibez
9ice
9ice
DJ Enimoney
DJ Enimoney
Crayon
Crayon
Terri
Terri
2Baba
2Baba
Burna Boy
Burna Boy
Gyakie
Gyakie
Mr P
Mr P
BigerTinz
BigerTinz
L.A.X
L.A.X
Junior Boy
Junior Boy
Umu Obiligbo
Umu Obiligbo
Rahman Jago
Rahman Jago
Mr Eazi
Mr Eazi
Mz Kiss
Mz Kiss
Pasuma
Pasuma
Naira Marley
Naira Marley
Broda Shaggi
Broda Shaggi
Ladipoe
Ladipoe
Ceeza Milli
Ceeza Milli
Ayanfe Viral
Ayanfe Viral
Zlatan
Zlatan
Papisnoop
Papisnoop
JeriQ
JeriQ
Stormyzino
Stormyzino
Popcaan
Popcaan
NAIJAKIT.COM

Trending Posts