The ministry of petroleum resources has disclosed that the Buhari administration is no longer fixing the pump price of petroleum products in the country. The disclosure was made by Timipre Sylva, the minister of state for petroleum resources on Thursday, September 3, NAN reported. FG says the current increase in the price of petrol was inevitable because of the COVID-19 pandemic. Muhammadu Buhari Source: Twitter Sylva told journalists during a briefing that the pump price of petroleum products was being fixed by marketers. He said all the government does is to ensure that marketers do not exploit the consumers. Nigerian striker scores 2 goals to help top European club stretch their unbeaten run to 9 games “Government is no longer in the business of fixing prices for petroleum products, we have stepped back. “Our focus now is on protecting the interest of the consumers and making sure that marketers are not profiteering,” the minister said. He stated that it was inappropriate to blame the government for the recent increase in fuel price. Sylva explained that President Muhammadu Buhari would never have allowed an increase in pump price if the decision depended on him. He noted that the recent fuel price increase was inevitable because the COVID-19 pandemic had forced the price of crude oil to zero zone. Meanwhile, a former senator from Kogi, Dino Melaye, has vehemently decried the federal government's order for the increase of petrol price to N151.56 per litre which has already taken effect in some states. On his Twitter page, Melaye described the move as wicked and insensitive and went on to say that at a time like this, the decision will affect Nigerians negatively. 

The government's position has fuelled a lot of backlash from prominent Nigerians like Melaye and even political groups such as the Peoples Democratic Party (PDP) which the former outspoken lawmaker belongs to. In another report, a former vice president, Atiku Abubakar, has rejected the recent hike in electricity tariffs. This is contained in a statement he posted on Twitter on Thursday, September 3. According to Atiku who was also the presidential candidate of the Peoples Democratic Party (PDP) in the last presidential election, what Nigerians need is stimulus and not disregard for their challenges. He argued that many Nigerians have not earned income for months due to the impact of the coronavirus pandemic.

It should be noted that Alex was trained in Europe as an automobile engineer. He is also the CEO of the company that built the IYI Celebrity.

According to the same media, the CEO said that the plan to go into local production of vehicles began in 2011, an idea which was later made possible with the application of advanced technology in motor production and maintenance. In 2016, the company produced its first vehicle named IYI Combatant with a new version of the car released a year after in 2017.

When commenting on the new version of the vehicle, Engineer Alex said: “This is a friendlier version than the “Combatant” which was produced in 2017. “Furthermore, its aggressive aesthetic and exhaust was made in consideration of the kind of road or terrain it was meant to ply on.” The engine and transmission of the new vehicle are reportedly at the rear side and it is powered by 1.8 litre engine with economical fuel consumption and low C02 emission.