Expect full deregulation of fuel price soon, Minister of State for Petroleum, Timipre Sylva, informs Nigerians.
Timipre Sylva told his audience that petrol pricing will be fully deregulated before the end of this year. He said this at the University of Ibadan during the opening of the 56th Annual International Conference and Exhibition of the Nigeria Mining and Geoscience Society (NMGS).
Timipre Sylva said before the full regulation, the Buhari’s government wants to offer Nigerians credible and affordable fuel as an alternative.
He 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.
“But, before we do that, we want to apply the principle of tolling the roads. Before you toll a road, you are expected to give an alternative.
“So, what we want to do for Nigerians is to give a credible and cheaper fuel as an alternative before we fully deregulate and we believe we will be able to achieve this later this year.
“And this, of course, is going to be a responsible way of also maintaining our environment.”