Expect More Increase In Fuel Prices, PMB Reveals

Photo of Milford Sound in New ZealandPhoto of Milford Sound in New Zealand

President Buhari has revealed in a statement through his representative, Prof. Yemi Osibanjo during the First Year Ministerial Performance Review Retreat at State House Conference Centre, Abuja that Nigerians should expect more increase in the price of petrol.

“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.” Prof. Yemi Osibanjo said.

Photo of Milford Sound in New Zealand

Author

Btbazes
I Bello Babatunde Moshood, The CEO of Btbazes.com, I hail from osun state, I was bred in Oyo state I'm Living in Lagos presently, I graduate from university of uyo in 2016, I start my blogging career since 2013.
2.0kViews
About Btbazes 3064 Articles
I Bello Babatunde Moshood, The CEO of Btbazes.com, I hail from osun state, I was bred in Oyo state I'm Living in Lagos presently, I graduate from university of uyo in 2016, I start my blogging career since 2013.

Be the first to comment

Leave a Reply

Your email address will not be published.


*