Fed Govt to decide on petrol price in Jan., says Kachikwu


KachikwuMinister of State for Petroleum Dr. Emmanuel Ibe-Kachukwu yesterday made some clarifications about the Petroleum Subsidy Fund (PSF), otherwise known as petrol subsidy.

He said that there was no subsidy in the price  of the Premium Motor Spirit (PMS).

Kachikwu, who is also the Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), spoke  to reporters after inspecting the Kaduna Refining  and Petrochemical Company (KRPC) in Kaduna.

His clarification on the subsidy regime became necessary following stakeholders’ request, such as the Nigeria Labour Congress (NLC) and the Conference of Nigerian Political Parties (CNPP) that he provides an explanation with regards to reports that the government has deregulated the downstream petroleum sector and removed petrol subsidy.

SOURCE: http://thenationonlineng.net/fed-govt-to-decide-on-petrol-price-in-jan-says-kachikwu/