FG Slams Marketers’ Profiteering for the Increase in Petrol Prices

The Federal Government has blamed the increase in the cost of petroleum products in some parts of the country on marketers who are engaged in profiteering.

The minister maintained that petroleum products are not in short supply but the challenge, he noted, is the distribution of the products, a problem he said the government is working to resolve.

In a question and answer session, the minister noted that the Nigerian National Petroleum Company (NNPC) Limited has agreed to work with the Independent National Electoral Commission (INEC) to ensure adequate provision of petroleum products during the exercise.

Sylva also announced that FEC approved the award of a contract for the construction of the Oloibiri Oil Museum and Research Centre to Messrs Julius Berger Plc, at the sum of 117 billion naira, a 300-month contract he said will be a major legacy of the President in the Niger Delta area.