According to Premium Times, there are
indications that the federal government is set to increase the price of petrol
following the deregulation of the downstream sector of the Nigerian petroleum
industry.
This is according to officials who hinted that the policy could push the price of petrol to 110 per litre at NNPC stations and higher at independent outlets.
Steps
have been taking to forestall the backlash which greeted the 2012 increase by
the Goodluck Jonathan administration, to this end, no formal announcement will
be made and government appears to have successfully wooed organised labour and
its affiliate unions to its side.This is according to officials who hinted that the policy could push the price of petrol to 110 per litre at NNPC stations and higher at independent outlets.
With full deregulation of the downstream sector, government withdraws subsidy while paving way for private marketers to enter the industry, under this scenario, the pump price of fuel is determined by market forces and governments acts only as a regulator.
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