By Andover Tyowase, Abuja
The Senate President, Godswill Akpabio has said that the increment in the prices of Premium Motor Spirit (PMS) is as a result of deregulation of the oil sector that allows market forces to determine prices.
Senator Akpabio however stated that the 10th National Assembly under his leadership is currently monitoring the development occasioned by the increment and will react at the appropriate time.
Speaking at the commissioning of the remodelled Senate Press corps yesterday, senator Akpabio explained that the decision of the Federal government to withdraw subsidy on petrol and deregulation of the down stream sector are responsible for the increment.
He however expressed confidence that Nigeria will come out of its current challenges, urging citizens not to lose hope.
The Senate President said that parliament will continue to monitor events and will take the right approaches in ensuring that the right things are done .
