The President of the Senate, Godswill Akpabio, has declared that market forces would stabilize the price of fuel soon.

Akpabio who made the declaration while Speaking with Senate Correspondent hinged the market forces on deregulation of which according to him, would not lead to significant increase in fuel price.

GALAXYTV reports that Akpabio explained that the removal of the petroleum subsidy is a necessary step to redirect funds to more critical areas. 

He spoke in response to a question on the recent fuel prices, by the Nigerian National Petroleum Corporation Limited. 

Akpabio stated that the removal of subsidy would mean that Nigerians would need to tighten their belts.

He added that an increase in product availability would eventually lead to lower prices.