Nigeria’s Minister of State for Petroleum Resources, Ibe Kachikwu, has stated that the federal government will adjust the pump price of petrol in May 2016 to put a permanent end to fuel crisis in the nation.
“The reality is that in the first three months of the price modulation, our 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.
“Our proprietary positions are for two different concerns. As petroleum Minister, my goal is to make sure that the price of crude oil continues to climb, but as NNPC GMD, our goal is to ensure that people buy product at cheaper price. They do not go together somehow. So most time, I try to balance the curve.”
“The whole fuel queues had been a complete nightmare for me. The reality is that I hurt more than every Nigerian who is at the filling stations. I am very emotional about my job and the things I do.
