The Minister of State for Petroleum Resources, Timipre Sylva, has blamed the high cost of petroleum products across the country on marketers who engage in profiteering.
Sylva disclosed this to State house correspondents after the Federal Executive Council (FEC) meeting presided over by President Muhammadu Buhari at the Council Chamber on Wednesday.
The Minister insisted there is no shortage of petroleum products, pointing out that distribution of the products have remained the only challenge faced by the industry and government is working to address it.
He further noted that the Nigerian National Petroleum Company (NNPC) Limited has agreed to work with the Independent National Electoral Commission (INEC) to ensure adequate provision of petroleum products during the forthcoming elections.
The Minister also announced that FEC has approved the award of contract for the construction of the Oloibiri Oil Museum and Research Centre to Messrs Julius Berger Plc, at the sum of N117 billion. He said the 300-month contract will be a major legacy of the President in the Niger Delta area.