Fg Attributes The Rise In Gas Prices To Profiteers.

The Federal Government has attributed the country’s increasing fuel prices on the actions of marketers hoping to profit illegally from the suffering of Nigerians.

Timipre Sylva, the minister of state for petroleum resources, revealed this to reporters yesterday after the Federal Executive Council (FEC) meeting at the Presidential Villa in Abuja, which was presided over by President Muhammadu Buhari.

According to reports, the majority of gas stations throughout the nation now sell petrol over the authorized pump price of N195, fluctuating between N200 and N650, with many others allegedly stockpiling the commodity.

However, Sylva warned that the ministry could reiterate a previous order to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to penalize the marketers.

He gave the assurance that everyone involved in the downstream industry is trying to keep the present problem under control. We have received instances of marketers taking advantage of consumers, and I’ve instructed NMDPRA to penalize anybody who does so.