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Osinbajo clears air on rumours of further rise in pump price, deregulation

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Acting President Yemi Osinbajo has apparently put to rest, rising speculations and mainly certain body language coming from the NNPC on further deregulation of the downstream sector, saying the Federal Government has no plan to deregulate the downstream sector of the petroleum industry or increase in pomp price.

He maintained that any attempt to deregulate the sector would lead to increase in prices of petroleum products, especially Premium Motor Spirit (PMS).

Giving more insights during the 2017 African Modular Refinery Discussion, organized by the Modular Refiners Association of Nigeria (MRAN), Osinbajo said the plan would have serious consequences on the nation’s economy.

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