The minister of state for petroleum resources, Timipre Sylva has disclosed that fuel price increase is beyond the control of President Buhari who is also the minister of petroleum resources.
The Minister who spoke to newsmen in Abuja on Thursday September 3, said it is unfortunate that citizens are blaming the federal government which is not in charge of fixing the prices of petroleum products, for the increased price.
Sylva stated the focus of the authorities is to protect the interest of citizens. He said;
“Government is no longer in the business of fixing prices for petroleum products, we have stepped back.
“Our focus now is on protecting the interest of the consumers and making sure that marketers are not profiteering.
“Left for him, he will never allow the increase in pump price; for this to happen, it means that it is an inevitable decision. COVID-19 took the price of crude oil to zero zone.”
Lamenting on the deceased crude production from two million barrels to 1.412 million barrels per day, Sylva alleged that the deregulation of the sector was politicised.
He said; “
Deregulation will definitely come with few pains, but survival of the country is paramount.”