FG, Govs to Resolve Fuel Price Logjam


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Onyebuchi Ezigbo in Abuja

The federal government will meet with state governors and the Nigerian National Petroleum Corporation (NNPC) on Thursday to find a solution to the issue of right pricing for petrol in the country.

Rising from its meeting with the organised labour last night, the federal government said that both sides have resolved to allow more time in order to look into ways of tinkering with the template for fixing domestic fuel price.

At the meeting which ended at about midnight, THISDAY gathered that the NNPC came up with a price range of N206 per litre for petrol.

It explained that the new price range was as a result of the rise in crude oil price in the international market.

According to the NNPC, after considering all other cost factors, the landing cost fuel hits N206 per litre.

The company also expressed its predicament in fixing the malfunctioning local refineries within short time frame, saying that the earliest the…

Source: Thisday Newspaper