President Muhammadu Buhari is currently meeting with the CEOs of two new agencies: the Nigerian Upstream Regulatory Commission (NUPRC), Engr Gbenga Komolafe and the Nigerian Midstream Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed at the statehouse.
They were led into the meeting with the President by the Minister of State for Petroleum, Timipre Sylva.
Addressing journalists after the meeting, Sylva said the President is aware and concerned about the hike in the price of gas and is promising action to ameliorate the situation.
The minister explained that the government has no control of the prices and rather, it is the international market that primarily determines the price of the commodity.
He, however, assured Nigerians that some elements of the pricing will be adjusted internally to enable a reduction, particularly in view of the Yuletide.
SOURCE: channelstv.com