 The Minister of State for Petroleum, Timi Priya Silva, has said that President Mohamed Buhari is aware of and concerned about the hike in the price of gas. He's also promised an action to ameliorate the situation. He said this while addressing State House correspondents after a meeting with the President in his office where he presented CEOs of two new agencies. They are the Nigerian Upstream Regulatory Commission and the Nigerian Downstream and Meadstream Petroleum Regulatory Authority are the State House. The minister explained that the government has no control of the prices. Rather, it is the international market that primarily determines the price of the commodity. Silva, however, showed Nigerians that some elements of the pricing will be adjusted internally to enable a reduction, particularly in view of the Eutite season. So the pricing of gas internationally now affects also the price of gas in the country. Apart from that, there are some issues around VAT charges on imported gas and of course taxes on imported gas, which we are handling. If you incentivize the importers too much, then you also kill the local industry. And also, you don't want to incentivize the local industry at the expense of the import. Because if you incentivize the local industry at the expense of the import, then you will not have enough gas produced within the country. So these are the issues of balancing that the Meadstream and Downstream Regulatory Authority are handling. And I want to assure you that we are quite concerned. Mr. President also is very concerned. He's aware that the price of gas is high in the market. And we are doing everything to see how we can bring down the price of gas, especially as we approach the Eutite.