RIVERS STATE RESIDENTS DESCRIBED PLAN OF FEDERAL GOVERNMENT TO INCREASE PUMP PRICE OF PETROLEUM PRODUCT AS ILL-FATED

Residents of Rivers State have faulted the Federal Government’s plan to increase pump price of Petroleum Products, describing the move as ill-fated.

Recall that the Minister of State for Petroleum Resources, Timipre Sylva prepared the minds of Nigerians for a higher regime of pump price of Petrol, following the high rate of Crude Oil in the International Market.

Some of the Residents including Peter Arimie, Courage Oyibo and Stevenson Ohiambe Ovie in an interview with Radio Rivers Correspondent Francis Golden in Port Harcourt said the Federal government needed to revamp moribund Nigerian Refineries to ensure availability of the Product in the country rather than spend billions of Naira on Subsidy.

The respondents urged the Federal Government to stop the proposed plan to increase fuel price emphasizing that such move will have multiplier effect on all sectors of the Nigeria economy.

They also appealed to the APC-led Federal Government to grant licenses for the establishment of Modular Refineries to complement the existing refineries in the country saying that such step will create employment opportunities for the teeming youths in the country.