The Minister of State for Petroleum Resources, Timipreye Sylva, has said in Abuja that there is nothing the government can do to intervene in the new petrol price as it is a direct fallout of the deregulation policy announced in the petroleum sector in March.
“It is a necessary economic policy,” he said “Successive administrations had desired to achieve deregulation without success. Some lacked the political will, while for others the timing was not appropriate.