The spokesman of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Kimchi Apollo, stated that the government does not control prices of diesel, aviation fuel and kerosene.
According to him, the prices of jet fuel, kerosene and diesel are fully deregulated; therefore there is no intervention from the government as far as the prices are concerned.
“However, the NMDPRA is committed to ensuring that consumers of these products are not exploited. Any marketer found to be engaging in unwholesome practices will face sanctions,” he said.
President of Nigeria Association for Energy Economics (NAEE), Prof. Yinka Omorogbe, noted that the current situation in Nigeria strengthens livelihood, stressing that energy remains fundamental to life and to sustainable development.
Omorogbe said: “Industries now have to rely on triply priced diesel for production. How many of them will be able to compete with cheaper foreign competition?
“Hardship will certainly increase and all these will negatively impact on the quality of life for all Nigerians, particularly those at the bottom of the barrel.”
