Cooking Gas Hike: Buhari is not Sleeping, but… – Sylva

The minister of state for petroleum resources, Timipre Sylva says President Muhammadu Buhari is aware of the current high cooking gas prices as the Yuletide season draws near.

Although, he noted that the government does not have power over the price.

Sylva said this on Tuesday while speaking with state house correspondents after a meeting with the president at the presidential villa, Abuja.

Timipre Sylva
Timipre Sylva

At the meeting, he presented Gbenga Komolafe, the chief executive officer (CEO) of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and Farouk Ahmed, CEO of the Nigerian Downstream and Midstream Petroleum Regulatory Authority (NMDPRA), to the president.

The minister noted that the government has no control of the prices, that it is the international market that determines the price of the commodity.

Sylva, however, assured Nigerians that some elements of the pricing would be adjusted internally to enable a reduction.

“We must understand that cooking gas is not subsidised. It is already a deregulated commodity so the price is not determined by the government or anybody here in Nigeria. In fact, gas prices are determined internationally,” Sylva said.

“The price of gas internationally now affects the price of gas in our country.

“But there are some issues around value-added Tax (VAT) charges and other taxes on imported gas, which we are handling.

“But, I want to assure you that we are quite concerned and the president also is very concerned; he is aware that the price of gas is high in the market and we are doing everything to see how we can bring down the price of gas, especially as the yuletide approaches.”

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