The federal government has said that there is no alternative to the new policy of deregulation of the price of petrol and appealed to the leadership of labour unions and all Nigerians for understanding, as the current hardship would not last long.
Addressing journalists in Abuja, Monday, the Minister of Information , Alh. Lai Mohammed, said that the paucity of foreign exchange has made it impossible for the Nigerian National Petroleum Corporation to continue to solely import petrol.
His words, “Many have been asking why this would happen at this time and what triggered the decision concerning the new framework for petrol products supply, distribution and pricing.
“Gentlemen, we have no choice than to liberalize the price of petrol, if we are to end the crippling fuel scarcity that has enveloped the country, ensure the availability of the products and end the suffering of our people over the lingering scarcity.”