The Rivers State Government on Tuesday introduced a N4 subsidy on fuel sold in the state.
He also announced that the state government would subsidise transport in the state.
In a broadcast to the people of the state monitored on Africa Independent Television, Rivers State Governor, Chibuike Amaechi, said the state government had reached an agreement with independent marketers to cut the price from N141 to N137.
He said the state government would pay a N4 price differential for every litre of fuel sold in the state. He also said the state government would ensure security for all petrol tankers supplying fuel to filling stations in the state.
He also said the state government had reached an agreement with the National Union of Road Transport Workers to peg fares at between N50 and N100 on major intra-city routes within the state.
He also listed the fare for each route.
Amaechi also said mass transit buses would be procured for the effective reduction of prices of petroleum products.
He also urged Nigerians to bear with the Federal Government in its determination to revamp the petroleum sector and stop the activities of the alleged fuel cabal.
Amaechi had on Monday met with independent marketers in the state on ways of reducing the pump price of fuel and ensuring its availability.-PUNCH
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