Sen. Bassey Edet Otu, the governor of Cross River State has said that there is no reason to hike price of petroleum products because all the petrols in the fueling stations and in the tank farms have already been subsidized by the federal government.
The Governor on Thursday said in Calabar that the removal of subsidy regime will take effect sometime in July.
Otu, said this when he Inaugurated a 12-man Joint Taskforce to monitor the pump price and seal up any station that does comply with the regulated price regime.
He said It was wrong that the dealers have immediately hiked the prices of this product.
“As we speak, the prices of foodstuff in the market have gone up automatically,” He said.
Reacting against the development, the governor said while inaugurating the team “I hereby empower you to go and do your work fervently in all fairness to the good people of Cross River State.”
“I trust your capacity hence, your appointment. He said he want them to do their job without any fear or favour, because “some petrol dealers hiked their prices immediately to the detriment of the common man.”
According to the Governor, “Anything that affects our people, affects all of us,” he said this is going to bring hardship to our people both in terms of mobility, movement of foodstuff and other essentials.
The Chairman of the Special Joint taskforce on petroleum monitoring, Mr. Peter Okim, said he was happy that he has been appointed to serve and promised to discharge their duties with all honesty.
The Committee were made up of stakeholders in the Oil and Gas, sector.
Recall that President Bola Tinubu’s planned removal of subsidy on petrol was on Monday contained in his inaugural speech.