Hardship: FG proposes N1,350 ceiling for petrol ex-gantry

By Ayobami Okerinde
The Federal Government is planning to negotiate a ceiling of N1,350 per litre on the ex-gantry cost of petrol in a move aimed at shielding pump prices from fluctuations in global crude oil prices and exchange rates.
Taiwo Oyedele, Minister of Finance and Coordinating Minister of the Economy, disclosed this on Thursday in Abuja while addressing a press conference on fuel prices and subsidy-related questions.
However, Oyedele acknowledged that the measures being proposed by the Federal Government would not completely ease the pressure on households.
He then outlined the proposed measures, including the N1,350 ceiling on the ex-gantry or landing cost of petrol, wh...