Proposed increase in fuel price – Kachikwu discloses govt plans

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– The minister of state for petroleum, Dr. Ibe Kachikwu insists that the current petrol pump price of N145 per litre remains in effect

– Kachikwu says the federal government has not announced any increment in pump price yet

Ibe-Emmanuel-KachikwuThe minister of state for petroleum, Dr. Ibe Kachikwu says the government is yet to announce an increase in petrol pump price.

The minister of state for petroleum, Dr. Ibe Kachikwu maintains that the government has not increased the pump prices of premium motor spirit (PMS), popularly called petrol.

Kachikwu yesterday, November 1, dismissed insinuation of any fuel price hike, insisting that the government had not announced any change in pump prices, Vanguard reports.

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The minister disclosed this shortly after the meeting between President Muhammadu Buhari and the leaders of Niger Delta at the presidential Villa, Abuja.

When responding to an enquiry about an imminent hike in petrol prices, he said no increment had been announced yet.

“Have you heard me announce any increment? Wait until you hear from my mouth,” he said.

The minister’s dismissal of a price hike in petrol was sequel to widespread panic in Abuja yesterday that major petrol stations, including the retail outlets of the Nigerian National Petroleum Cooperation (NNPC) had jerked up their pump prices from the official N145 to N149 per litre.

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Recall that marketers of petroleum products have also suggested that the sale of petrol at N145 per litre was no longer feasible with the current price of foreign exchange.

But Nigerians grappling with the current economic recession have warned that any future increment in the price of petrol will worsen the economic situation in the country.