We want petrol to be sold at n70 house of rep urge ministry of petroleum

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The House of Representatives has urged the Ministry of Petroleum to ensure that petrol is sold at N70 per liter, which is a significant reduction from the current price of around N162 per liter.

The call was made by the House of Representatives Committee on Petroleum Resources (Downstream) during a meeting with the Minister of State for Petroleum Resources, Timipre Sylva, and other officials from the ministry.

The committee argued that the current price of petrol is too high and is affecting the cost of living for Nigerians. They also pointed out that the price of petrol in Nigeria is higher than in many other countries, including neighboring countries.

The committee's chairman, Hon. Musa Sarki, said that the committee is concerned about the impact of the high price of petrol on the economy and the people, and that they are urging the ministry to take steps to reduce the price.

The Minister of State for Petroleum Resources, Timipre Sylva, however, said that the ministry is working to reduce the price of petrol, but that it is a complex issue that requires careful consideration of various factors, including the cost of production, transportation, and distribution.

It's worth noting that the price of petrol in Nigeria is regulated by the Petroleum Products Pricing Regulatory Agency (PPPRA), which is responsible for setting the price of petrol based on various factors, including the cost of production, transportation, and distribution.

Overall, the call by the House of Representatives to reduce the price of petrol to N70 per liter is a significant development that could have a major impact on the economy and the people of Nigeria.