We’re not responsible for new N162 petrol pump price — FG

The Federal Government said on Monday that it has washed its hands of the pricing of Premium Motor Spirit popularly called Petroleum in the country

The government noted that it has now taken a backseat in the issue of petrol pricing in the country.

Minister of Labour and Employment, Senator Chris Ngige, made this known while speaking at the Old Banquet Hall, Presidential Villa Abuja.

The event was the inauguration of the bipartite plus technical committee on Premium Motor Spirit, PMS, pricing framework on Monday.

A statement from Ngige’s media office, quoted him as saying that the government did not fix the new PMS pump price that took off in the country on Monday.

According to him, the new N162.44k fuel price “was a price reduction gotten from the commercials like demurrage, transshipment and storage.”

Said Ngige, “Make no mistake about it. Government has taken the backseat. Government did not fix the price that took off from today.

“This Committee is expected to do more to enthrone transparency in the area.”

This would be the second bipartite meeting this month.

During the last bipartite meeting between the Federal Government and organised labour, represented by the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC), held on December 7, 2020, an agreement was reached to reduce the PMS pump price by N5, with effect from yesterday, December 14, 2020.