Dr Ibe Kachikwu, Nigeria’s minister of Petroleum Resources, has urged Nigerians to be patient as the increased fuel prices will soon reduce.
The minister, who made the statement during an interview with Channels television on Thursday, May 12, assured that Nigerians would be amazed at how the prices of petrol will dropin six months.
This statement was necessary following the new pump price of petrol (between N135 and N145 per litre) from N86 and N86.50.
Kachikwu told Nigerians that the market dynamics will set in pretty soon “because there are a lot of Nigerians who are very active, very bullish, very talented in doing this; they just have been prevented by government intrusions.
“As it gets better and it gets to a point where we find that the market has stabilised in terms of supply, we will begin to pull back a bit in terms of determinants for pricing.”
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