‘What cutting fuel price really means’ – Presidency explains

The Presidency has clarified the Federal Government’s plan to reduce the burden of rising petrol prices on Nigerians.
According to the government, the Nigerian National Petroleum Company (NNPC) will suspend its retail profit margin and sell petrol at cost for the next 30 days, targeting vulnerable households and commercial transport operators.
The clarification was contained in a statement on Thursday by the Special Adviser to the President on Information and Strategy, Bayo Onanuga.
The Presidency said the new arrangement was announced by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, on Thursday, as part of fresh measures to cushion the effect of t...