Nigeria’s Minister of State for Petroleum, Ibe Kachikwu, says the Federal Government will work to maintain the new petroleum products pricing template which pegs the price of petrol between N135 and one N145 per litre.
The minister said that the government is presently unable to consider fixing a new price for petrol without considering some of the market variables that gave rise to the current petroleum pricing template.
He made the remarks in Abuja on the sideline of an event organised by the Petroleum Products Pricing Regulatory Agency, PPPRA as well as the Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN
Last week, all NNPC stations across the country increased their prices from 141 to 145 naira per litre, raising fears that a general increase was in the offing.