Federal Government Planning To Increase Fuel Subcharges

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The Federal Government of Nigeria (FG) has announced the start of talks with trade union representatives on how to increase the fuel freight from N7.51 to N9.11 per liter.

The plan calls for an increase of 21.30 percent in the cost of petrol.

The announcement was made after a meeting of the National Association of Road Transport Owners at the Zuma Rock Resort, on the Abuja-Kaduna highway, The Punch reported.

The Executive Secretary of the Petroleum Equalisation (Management), Ahmed Bobboi, said the commission was awaiting approval from the federal government before implementing the new freight rate of N9.11 per liter.

He said the Federal Government was waiting on the government-appointed committee on petrol and electricity prices to revert with its decision on the issue

Asked to comment on the increase, NNPC chairman Mele Kyari, who was represented by the commission’s finance officer, Umar Ajiya, said the government would announce the increase on a pricing template.