The Minister of State for Petroleum, Timipre Sylva, has said that President Muhammadu Buhari is aware and concerned about the hike in the price of gas and is promising action to ameliorate the situation, IgbereTV reports.
He said this while addressing State House correspondents after a meeting with the President in his office where he presented CEOs of two new agencies: the Nigerian Upstream Regulatory Commission (NURC) and the Nigerian Downstream and Midstream Petroleum Regulatory Authority (NMDPRA) at the statehouse.
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.
Sylva, however, assured Nigerians that some elements of the pricing will be adjusted internally to enable a reduction, particularly in view of the Yuletide season
