Sunday, 27 December 2015

NNPC To Announce 85 Naira Fuel Pump Price In January 2016

The Federal Government may reduce
the pump price of petrol to N85 per
litre from January 1, 2016.
The Minister of State for Petroleum
Resources, Dr. Ibe Kachikwu, made
this disclosure to journalists at the
Port Harcourt Refining Company,
Rivers State, after inspecting the
plant.
Asked when the Federal Government
would release the new petrol price
template prepared by the Petroleum
Product Pricing Regulation Agency,
Kachikwu said that he approved the
new price for the agency on
Thursday.
Pressed to reveal when the new price
would become effective, Kachikwu,
said “like I said, we have done a
modulation and it is showing us
below N87.
I imagine that if PPPRA publishes it
today, it will become effective
immediately. But the 1st of January
2016 is when we are looking at.”
He said the new price would be
below the current N87 per litre and
it would now convince Nigerians that
the pricing modulation that the
Federal Government promised to
embark on a few days ago was not a
trick.
He said, “It (the template) is out, I
signed off on it yesterday (Thursday)
. I imagined that in the next couple
of days the marketers would get
advice on that.

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