Oil Marketers, Wednesday, jettisoned their clamour for an increase in the price of petrol, and instead appealed to the Federal Government to grant them tax holidays and other incentives that would help cut their costs and also ensure that they resume fuel importation, Vanguard reports.
This was part of agreements reached at the meeting of the ad-hoc committee set up by the Presidency to engage the Federal Government on ways to get oil marketers to restart importation of the commodity and resolve the country’s fuel supply challenges.
A source in the meeting, who does not want to be named, because he was not authorized by the committee to talk on the agreements, also disclosed that it was agreed by all the members that the price of the commodity should not be increased.
He also stated that oil marketers had agreed to adopt cost-cutting strategies, while four sub-committees were inaugurated to help address the challenges of fuel supply across the country.
The source said all the agreements reached at the meeting, which was still ongoing as at 5pm Wednesday, would be relayed to the Presidency, hopefully by tomorrow, before they are made public.
The post Oil Marketers Backpedal on fuel price increase, ask for incentives to resume imports appeared first on Energy News | Oil and Gas News.