Fuel price increase imminent-Rewane warns

The chief executive officer of Financial Derivatives Company Limited, Bismarck Rewane, wants Nigerians to be prepared for an increase in the pump price of the Premium Motor Spirit (PMS), popularly called petrol. There have been speculations that the government of President Muhammadu Buhari might increase the pump price of petrol. Giving details of his thought on the issue, Rewane who made a presentation at the Lagos Business School, said the increase would come because the government is working towards reducing subsidy payments. The Cable reports that Rewane said subsidies are…

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