The Federal Government is proposing a ceiling of N1,350 per litre on the ex-gantry cost of petrol as part of efforts to reduce volatility in pump prices. Taiwo Oyedele, Minister of Finance and Coordinating Minister of the Economy, announced this during a press conference in Abuja on Thursday. He noted that the measures would not completely ease household pressure but are designed to shield pump prices from fluctuations in global crude oil prices and exchange rates.
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