Federal Government is set to enforce full deregulation of petrol pricing before end of this year, Minister of State (Petroleum) Timipre Sylva said yesterday.
His statement comes on the heels of nationwide outrage that trailed reports of the introduction of a new price template of N206 per litre from N162 – N163 for March.
The minister spoke at the University of Ibadan during the opening of the 56th Annual International Conference and Exhibition of the Nigeria Mining and Geoscience Society (NMGS).
Sylva said: “We have been talking about deregulation for decades. Unfortunately, we have not succeeded. We have succeeded in deregulating some products.
“Kerosene has been fully deregulated; diesel has been fully deregulated. But deregulation of PMS (petrol) has continued to elude us. We expect that this year, we will be able to achieve that.”
