FUEL PRICE HIKE NOT SUBSIDY REMOVAL — OSINBAJO

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Vice President Yemi Osinbajo yesterday alleged “many misconceptions” about the new petrol price of N145 per litre, stressing that the new regime has nothing to do with subsidy removal. The new price came into effect on Wednesday from the former N86.50

Osinbajo, is a statement titled ‘The Fuel Pricing Debate: Our Story’ and personally signed by him, said the price was caused essentially by foreign exchange problem in the face of dwindling earnings.

He said: “I have read the various observations about the fuel pricing regime and the attendant issues generated. All certainly have strong points.

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