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PETROL: FG Insists on Fuel Price Slash At Meeting With Dangote Refinery, Marketers
The Federal Government has called on marketers to reduce the pump price of petrol to reflect falling crude costs in the international market.
The Minister of state for Petroleum Resources (Oil), Heineken Lokpobiri, made the call on Monday at a stakeholders’ meeting with the marketers and other downstream petroleum sector operators.
The minister demanded that the sharp drop in Brent crude from about $118 a barrel earlier this year to below $70 must be reflected at the pumps.
“The price of fuel should reflect what is going on now,” he said, urging marketers to pass the cost reductions to consumers.
He queried why retail pump prices for Premium Motor Spirit, PMS, and other petroleum products have not fallen in line with lower international replacement costs.
According to him, deregulation did not mean allowing what he called ‘excessive profits’, stating that government preferred frank talks over heavy-handed enforcement
The minister added that the petroleum marketers must build consensus on how to lower pump prices without killing business viability.
“We would rather sit down with you and agree a practical framework than try to impose measures we cannot effectively enforce,” he said
The meeting, convened at the directive of the Ministry of Petroleum Resources by the sector regulator, had in attendance officials from the FCCPC, Dangote Refinery, MEMAN, DAPPMAN, IPMAN, NARTO, PETROAN among others.
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A cleric for the Church of Christ in Nations, COCIN, in Barkin Ladi LGA, Plateau State, Rev Ezekiel Dachomo, has made shocking allegations on the withdrawal of United States troops from Nigeria.…For more, Complete your reading
Speaking to his congregation during a sermon, Rev Dachomo said Boko Haram and ISWAP have taken strategic positions in the Nigeria Army.
The Director-General of the World Trade Organization, WTO, Ngozi Okonjo-Iweala, caught global public attention when she danced with Igbo masquerades at the WTO Open Day in Geneva, Switzerland.
In a viral video, an Adamma masquerade, adorned in elaborate woven raffia and a beautifully carved maiden mask, strode into the centre of the square and moved with intricate footwork.
The masquerade stamped its feet to the escalating tempo of the drums, bringing the raw spirit of southeastern Nigeria straight into the heart of global governance.
The crowd erupted in cheers as Okonjo-Iweala immediately caught the rhythm.
She matched the masquerade’s energy, rolling her shoulders and executing graceful, rhythmic steps that perfectly mirrored the cadence of the Ogene.
Watch video
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