Buhari, represented by Vice President Yemi Osinbajo, gave this explanation on Monday while declaring open a 2-day First Year Ministerial Performance Review Retreat at the State House Conference Centre, Abuja.
“There are several negative consequences if the government should even attempt to go back to the business of fixing or subsidising PMS prices. “Simply because we are not able to afford it, if reasonable provisions must be made for health, education and other social services,’’ he said. “This explains why the PPPRA made the announcement a few days ago setting the range of price that must not be exceeded by marketers.
Buhari said he already signed off on the first phase of the Siemens project to address many of these issues. “But we also have a duty to ensure that the large majority of those who cannot afford to pay cost-reflective tariffs are protected from increases.’’
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