Nigeria To Reduce Pump Price Of Petrol Soon - VP Osinbajo

Date: 24-10-2015 6:46 am (8 years ago) | Author: Mister Jay Wonder
- at 24-10-2015 06:46 AM (8 years ago)
Online (m)

Nigeria's Vice-President Yemi Osinbajo has revealed that the government is working on a medium-term reduction of the pump price of petroleum products.

According to him, the Muhammadu Buhari administration is working on ensuring that private refineries work, while reducing importation of refined petroleum.
“We are unbundling the NNPC so that its various components are effective core centres and are able to do their business well,” he told Bloomberg in an interview.

He said the government was going to reduce the role of the NNPC to its main objective of regulating the sector and ensure a reduction of pump price of petroleum products.

“We are going to have private refineries at the site of the old refineries, so they can benefit from the available infrastructure.

“We think that in the medium term, we would be able to get cheaper pump price, pump price of oil would be cheaper because we would be importing far less fine petroleum. A lot of that would be produced locally.

“Now, we have well over 30 modular refineries, so we think a lot of modular refineries would come. Many of them, their major concern is feed stock, are we going to be guaranteed feed stock?

“We are working on that. Once we are able to deal with that, we think that we would be able to reduce pump price and get the whole business of importation of refined petroleum and the NNPC getting directly involved; we are going to reduce that.

“The ultimate objective of course is to have NNPC regulatory, playing a more regulatory function as the private sector takes most of the downstream.”


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Posted: at 24-10-2015 06:46 AM (8 years ago) | Addicted Hero
- morgrawl231 at 24-10-2015 06:56 AM (8 years ago)
(m)
Good.......looking forward to seeing that...
Posted: at 24-10-2015 06:56 AM (8 years ago) | Hero
Reply
- frank1234 at 24-10-2015 07:16 AM (8 years ago)
(m)
Make una live for 85 as dey oooh we ar not complaining.una don dey promise waiting una no go fit do.we don want  qew all d time. Confuse people
Posted: at 24-10-2015 07:16 AM (8 years ago) | Newbie
Reply
- XTnote at 24-10-2015 07:39 AM (8 years ago)
(m)
Osibade Mr Promise and fail,the youths are still waiting for the 5k you promised them.its like the Vp is the new king of ghost workers
Posted: at 24-10-2015 07:39 AM (8 years ago) | Upcoming
Reply
- stella1981 at 24-10-2015 07:41 AM (8 years ago)
(f)
If it true good
Posted: at 24-10-2015 07:41 AM (8 years ago) | Upcoming
Reply
- musleh247 at 24-10-2015 09:26 AM (8 years ago)
(m)
Dat would be better if it's tru
Posted: at 24-10-2015 09:26 AM (8 years ago) | Gistmaniac
Reply
- winace at 24-10-2015 09:53 AM (8 years ago)
(f)
We are waiting. And it must be 40 as promise during campaign.
Posted: at 24-10-2015 09:53 AM (8 years ago) | Addicted Hero
Reply
- Marah001 at 24-10-2015 10:15 AM (8 years ago)
(m)
If u say so
Posted: at 24-10-2015 10:15 AM (8 years ago) | Upcoming
Reply
- Oways at 24-10-2015 10:19 AM (8 years ago)
(m)
Lets hope it come sooner than later
Posted: at 24-10-2015 10:19 AM (8 years ago) | Gistmaniac
Reply
- kp45 at 24-10-2015 11:32 AM (8 years ago)
Online (m)
i am waiting
Posted: at 24-10-2015 11:32 AM (8 years ago) | Addicted Hero
Reply
- aspeng007 at 24-10-2015 12:31 PM (8 years ago)
(m)
Old news bt still,dat wil b gud
Posted: at 24-10-2015 12:31 PM (8 years ago) | Upcoming
Reply
- sarah555 at 24-10-2015 12:58 PM (8 years ago)
(f)
Noted
Posted: at 24-10-2015 12:58 PM (8 years ago) | Gistmaniac
Reply
- Trueyarn at 24-10-2015 03:20 PM (8 years ago)
(m)
Same story everyday.
Posted: at 24-10-2015 03:20 PM (8 years ago) | Hero
Reply
- yemoma at 24-10-2015 10:10 PM (8 years ago)
(m)
 Too much  promises
Posted: at 24-10-2015 10:10 PM (8 years ago) | Upcoming
Reply
- mary11 at 24-10-2015 11:19 PM (8 years ago)
(m)
Is he prophesying all what
Maybe he think he still a pastor assuring his congregation of better days ahead

Posted: at 24-10-2015 11:19 PM (8 years ago) | Hero
Reply
- mary11 at 24-10-2015 11:22 PM (8 years ago)
(m)
This man is becoming a talkative maybe he's just trying to be active so it wouldn't look like he's been sidelined

Posted: at 24-10-2015 11:22 PM (8 years ago) | Hero
Reply
- mary11 at 24-10-2015 11:25 PM (8 years ago)
(m)
Even buhari himself go come out deny you when Nigerians start asking for the fulfilment of your promise

Posted: at 24-10-2015 11:25 PM (8 years ago) | Hero
Reply
- dickieponga at 24-10-2015 11:43 PM (8 years ago)
(m)
And why...?
Posted: at 24-10-2015 11:43 PM (8 years ago) | Hero
Reply
- zezprincess at 26-11-2015 11:57 PM (8 years ago)
(f)
Story 4 d gods!.
Posted: at 26-11-2015 11:57 PM (8 years ago) | Hero
Reply
- moralemike07 at 9-01-2016 10:17 AM (8 years ago)
(m)
Too much talk.
Posted: at 9-01-2016 10:17 AM (8 years ago) | Gistmaniac
Reply

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