Minister says FG to increase fuel price next month

chika ebuzor

April 6, 2016 6:27 AM

Kachikwu also promised that the fuel crisis will end in Lagos and Abuja on Thursday, adding that it will end by the end of the week in other states.

The minister of state for Petroleum Resources,

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This is despite the current scarcity of fuel Nigerians have been made to face lately.

Daily Post reports that the minister made the announcement when he visited the Petroleum Products Pricing Regulatory Agency (PPPRA) in Abuja.

The minister said “The reality is that in the first three months of doing the price modulation, our over-recovery basically enabled us to save quite a lot of money and that is going to fund the gap that we see in April.

“But for May, obviously, the prices would have to be adjusted to mark the current trends.”

Kachikwu also announced that Nigeria’s refineries are ready to work.

He also said Nigerian companies will cope with the global crash in oil prices.

What do you think about the decision of the Federal Government to increase fuel prices next month?

READ: ‘Nigerian companies will survive oil price crash,’ Kachikwu says

Please make your comments below.

chika ebuzor

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