The Minister of State for Petroleum Resources, Timipre Sylva, on Tuesday informed newsmen in Lagos that the price of petrol remains N162 per litre. Officials of the Nigerian Labour Congress were also part of the briefing which also involves the full path to deregulation.
Speaking on some marketers selling petrol above the approved N162, the minister said, “That’s unfortunate”, he stated. He called on the DPR to be proactive and that there was no price increment.
Sylva noted that the federal government will make a final decision on deregulation after meeting with stakeholders.
He further gave a break down on the bid round for the award of 57 marginal oilfields, won by 161 of the bidding companies. The 161 successful bidders, according to the Minister emerged from a pool of over 600 indigenous oil companies that jostled for the 57 marginal fields when the process commenced since June 2020.
“One hundred and sixty-one companies were allocated marginal fields, and I will not give you the details of how many have paid. I’ve told you that up to 50 per cent of those winners have paid,” he stated.
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