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FG Steps up to douse tensions driven by increase petrol pump price

Discussion in 'Stock Market and Economy news' started by Melvin, Sep 8, 2020.

  1. Melvin

    Melvin Active Member

    Apr 24, 2020
    Likes Received:

    The Federal government on Monday, September 7 stepped up to address the raisen tensions driven by the recent rise in petrol pump price and electricity tariffs were Vice president, Yemi Osinbajo stated that the hike in the cost of the two items was not to inflict pains on Nigerians.

    Some Ministers also pertained in the invention of the FG pleading with Nigerians to express understanding of the delicate situation which has resulted to the rise in prices of the two items, also noting that the cost of petrol and electricity tariffs remain cheaper in Nigeria than in any other African country.

    Last week, the Petroleum Products Pricing Regulatory Agency (PPPRA) increased ex-depot price of petrol from N138 per litre to N151 per litre, influencing a change in the retail cost from a price range of N145-N148 to the extant N158-N162 range with FG making four interventions since then.

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