Buhari Will Soon Take Action on Cooking Gas Price Hike – Sylva

Minister of state for petroleum resources, Timipre Sylva has assured Nigerians that President Muhammadu Buhari will soon take action on the current high cooking gas prices.

Sylva, who made this known on Tuesday while speaking with state house correspondents after a meeting with the president at the presidential villa, Abuja, said said the president is aware and concerned about Nigeria’s cooking gas price hike. 

The minister said: “We must understand that cooking gas is not subsidised. It is already a deregulated commodity so the price is not determined by the government or anybody here in Nigeria. In fact, gas prices are determined internationally,” 

“The price of gas internationally now affects the price of gas in our country.

“But there are some issues around value-added Tax (VAT) charges and other taxes on imported gas, which we are handling.

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“But, I want to assure you that we are quite concerned and the president also is very concerned; he is aware that the price of gas is high in the market and we are doing everything to see how we can bring down the price of gas, especially as the yuletide approaches.”