This is according to officials who hinted that the policy could push the price of petrol to 110 per litre
at NNPC stations and higher at independent outlets.
Steps have been taking to forestall the backlash which greeted the 2012 increase by the Goodluck Jonathan administration, to this end, no formal announcement will be made and government appears to have successfully wooed organised labour and its affiliate unions to its side.
With full deregulation of the downstream sector, government withdraws subsidy while paving way for private marketers to enter the industry, under this scenario, the pump price of fuel is determined by market forces and governments acts only as a regulator.
Source: Premium Times
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