The Group Managing Director of NNPC and the Minister of State for Petroleum Resource Dr Ibe Kachikwu said on Monday that Petrol Pump price will be reverted to N97 next year against N87 it is now, he stated that the Country economy could not adequately support the current price of N87 per litre. he also added that the Government might consider exiting the subsidy if the current strategy fails.
Dr Kachikwu stated this on Monday while defending his ministry’s projections as contained in the 2016 to 2018 Medium Term Expenditure Framework and Fiscal Strategy Paper before the Joint Senate/House of Representatives Committee on Finance, Appropriation and Banking, Insurance and other Financial Institutions.
He appeared alongside the Minister of Finance, Mrs. Kemi Adeosun; Minister of National Planning, Senator Udo Udoma; Central Bank of Nigeria Governor, Godwin Emefiele; Chairman, Federal Inland Revenue Service, Mr. Babatunde Fowler; and Director-General, Debt Management Office, Dr. Abraham Nwankwo, among others.
It could be recalled that former minister of Petroleum Diezani Madueke on January 18 Announced that the federal government had approved reduction of Petrol pump price by N10 due to global fall in oil price.
No comments:
Post a Comment
Add a comment