The former governor of Bayelsa and current minister of state for petroleum, Timipre Sylva, in a statement said that the pump price increase of fuel is beyond President Buhari’s control.
Sylva disclosed this while speaking to newsmen in Abuja on yesterday September 3, said that: “it is unfortunate that citizens are blaming the federal government which is not in charge of fixing the prices of petroleum products, for the increased price.”
Timipre Sylva added that the focus of the authorities is to protect the interest of citizens.
According to his statement;
“Government is no longer in the business of fixing prices for petroleum products, we have stepped back.
“Our focus now is on protecting the interest of the consumers and making sure that marketers are not profiteering.
“Left for him, he will never allow the increase in pump price; for this to happen, it means that it is an inevitable decision. COVID-19 took the price of crude oil to zero zone.”
However, when asked why the decrease in crude oil production from 2 million barrels to 1.412 million barrels per day, Sylva claimed that the deregulation of the sector was politicized.
“Deregulation will definitely come with few pains, but survival of the country is paramount”, he said.