FG May Increase Petrol Price To N180 Soon - Ibe Kachikwu

The Federal Government may increase the price of Premium Motor Spirit (PMS), popularly called petrol to a minimum price of N180 and above anytime soon.
Minister of State for Petroleum Resources, Dr. Ibe Kachikwu who dropped the hint in Abuja on Thursday, said the current price of N145 per litre can no longer be sustained.

In a presentation he made to a joint committee on Petroleum (Downstream) of the Senate and the House of Representatives, the Minister said the landing cost for petrol stood at N171 per litre.

According to him, the Federal Government, through the Nigerian National Petroleum Corporation (NNPC) has been bearing the cost of N26 per litre, representing the difference between N171 and the current official price of N145 per litre.

Insisting that independent marketers would not be able to import the product at the current foreign exchange rate, saying the marketers were able to sell for N145 per litre when the exchange rate was N285 per Dollar. The Naira presently exchanges for N365 per Dollar.

http://worldtopnewsng.com/fg-may-increase-petrol-price-n180-soon-ibe-kachikw

ANOTHER ONE

They can beat us but they can never break our dignity or self esteem.

Let the macabre dance continue

Mchew! Fake news

Lol

After series of previous denials, this govt is insensitive to the plight of its citizens