Tobi Adebayo
The Nigeria Governors’ Forum (NGF) has backed the full deregulation of petrol, suggesting that fuel pump price should be pegged at N385 per litre.

This was disclosed in a communique released on Thursday following a virtual meeting held on Wednesday night.

According to the communique, Governor of Kaduna State, Nasir El-Rufai, who headed a six-man committee set up by the National Economic Council (NEC), gave a briefing on the appropriate pricing of petrol in Nigeria, where he called for full deregulation of petrol.

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The committee, which was set up to look into the dwindling revenues of states, also recommended that the Federal Government should purchase 113 buses to cushion the effects of the fuel price increase.

The recommendation, however, is subject to approval by NEC.

Recall that the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, said in March, that fuel pump price will “inevitably increase”, saying an N120 billion monthly subsidy was not sustainable.