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LequteMan
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Nigeria's Minister of State for Petroleum Resources, Ibe Kachikwu, has condemned the NNPC over the recent increment of petrol pump price at its depots.
The firm had increased the price of the commodity from N141 to N145 per litre days ago, prompting some oil marketers to hike theirs to N150 per litre. As a result, some areas of Lagos and Ogun states are experiencing a mild fuel scarcity.
Speaking on the issue, Kachikwu said: “First, I am not aware that the NNPC has increased price.
"I need to look into that. It is a bit of surprise for me, because there are processes in doing this. If they have done that, it means they are doing it wrongly. Let me find out what the facts are,” saying the increase could be as a result of foreign exchange differentiation.
Nigeria: Oil Minister Kachikwu Announces Plans to Review Pump Price of Petrol
The firm had increased the price of the commodity from N141 to N145 per litre days ago, prompting some oil marketers to hike theirs to N150 per litre. As a result, some areas of Lagos and Ogun states are experiencing a mild fuel scarcity.
Speaking on the issue, Kachikwu said: “First, I am not aware that the NNPC has increased price.
"I need to look into that. It is a bit of surprise for me, because there are processes in doing this. If they have done that, it means they are doing it wrongly. Let me find out what the facts are,” saying the increase could be as a result of foreign exchange differentiation.
Nigeria: Oil Minister Kachikwu Announces Plans to Review Pump Price of Petrol
