The Federal Government, Monday,
allayed fears over an impending
hike in the price of Premium
Motor Spirit, PMS, also known as
petrol, stating that the increase in
the Bridging Cost component of
the pricing template has been
absorbed by efficiencies in the
sector and savings from ship
lightering expenses.
This was even as the Nigerian
National Petroleum Corporation
(NNPC), said it would soon
commence the transportation and
supply of petroleum products to
Kaduna, Kano, Jos and Suleja
through pipeline.
Addressing newsmen in Abuja,
Minister of State for Petroleum
Resources, Mr. Ibe Kachikwu,
disclosed that the Federal
Government is committed to
looking inwards and ensuring
that Nigerians and the general
public do not pay more from
where inefficiencies can be
achieved.
Kachikwu, who was represented
by his Technical Assistant on
Downstream and Infrastructure,
Mrs. Brenda Ataga, explained that
the issue of the increase in the
pricing template was an efficiency
issue which ensured that the
review did not translate to a
change in the price of PMS.