Buhari Rejects Petrol Price Hike

President Muhammadu Buhari is reported to have opposed a new petrol price template for the country.

Reuters news agency said presidency sources told it Buhari informed Dr Ibe Kachikwu, the minister of state for petroleum and Group managing director of the NNPC, Dr. Makanti Baru at a meeting in Abuja.

Reuters did not give a specific date of the meeting, but said it took place last week.

Reuters said NNPC officials’ meeting with the president followed an earlier one among former GMDs of the national oil company. The ex-GMDs purportedly considered a review of the current N145 per litre price  of petrol due to the devaluation of the Naira and attendant increase in importation cost.

By Ola Adeola

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