Pump Price Of Petrol Will Crash From N145 Within Four To Six Months -Minister Of Petroleum Resources

Published 2 years ago by: Mister Jay Wonder
at 12:30 PM, 1/09/2017 (2 years ago)

(23117 | Addicted Hero) (m)


The pump price of Premium Motor Spirit will crash from the current N145 within four to six months, the Minister of State, Petroleum Resources, has disclosed.
 
The Minister of State, Petroleum Resources, Dr. Ibe Kachikwu, has given assurance that the pump price of Premium Motor Spirit (PMS), otherwise known as petroleum will crash from the current N145/litre within four to six months.
 
Kachikwu who made the prediction in a podcast message to mark his two years in office, did not give the likely price the vital product would be sold.
 
According to him, the forecast springs from what he described as the competition inherent in the PMS price modulation.
 
The minister said the price of diesel, which is now 40 per cent lower that what hitherto obtained, amid surplus supply, was enough evidence that petrol prices will also crash.
 
He said: “once Nigerians throw their trading skill in it, once competition thrives, the prices will continue to tumble.

“My guess is that you will see the prices tumble in the next four, five to six months. The market will be more stable and definitely the prices will be lower than what we see today.”
 
On the refining capacibility of the nation’s refineries, Kachikwu this was the first time the three refineries would be working simultaneously, although at 50 per cent of their capacity, in the last 10 years.
 
“We expect to put in investment to put them to 90 per cent capacity,” he said.
 
According to Kachikwu, this his tenure was also the first time the NNPC Group has recorded savings, which could be used to fix the refineries in collaboration with its Joint Venture partners.
 
The Minister further noted that this was the first time the government upgraded the nation’s depots, adding that out of 19, only three are grounded currently.

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gogoman at 01:58 PM, 1/09/2017 (2 years ago)
(31817 | Addicted Hero) (m)

indeed.....
Reply
kacylee at 02:58 PM, 1/09/2017 (2 years ago)
(24065 | Addicted Hero) Online (f)

abeg when ooooo!

Reply
Mykie010 at 04:25 PM, 1/09/2017 (2 years ago)
(6619 | Gistmaniac) (m)

Pls ooo,I take GOD beg una,make e crash,that's d reason for the high price of commodities
Reply
Aluta77 at 05:00 PM, 1/09/2017 (2 years ago)
(102 | Upcoming) (m)

Story for d small gods. Who are they deceiving???  Next chapter please
Reply
ejikeiyo at 06:45 PM, 1/09/2017 (2 years ago)
(2463 | Gistmaniac) (m)

WASTED GENERATION
Reply
Floyd29 at 03:05 AM, 13/09/2017 (2 years ago)
(2158 | Gistmaniac) (f)

I don't believe this.
Reply
tegonwa at 03:10 AM, 13/09/2017 (2 years ago)
(6571 | Gistmaniac) (m)

Talking Too Much With Little Or No Effect.Quite Hopeless!Nawaa O!
Reply
yawa_don_gas at 02:10 AM, 16/09/2017 (2 years ago)
(30456 | Addicted Hero) (m)

Please please hold on, why e be say everywhere I take even when I wan hide yawa dey there?
Why why?
Na yawa life, yawa goes on
Reply
BournIdentity at 01:27 PM, 22/09/2017 (2 years ago)
(46066 | Addicted Hero) (m)

Roll Eyes                                                                           
Reply
Novic at 11:02 PM, 25/09/2017 (2 years ago)
(15342 | Hero) (m)

This is serious ooooo..... make I just dey waka pass..... abeg I dey waka pass, I will come and comment later.
This one weak me ooooo, well life must goes on.
I dey waka come bare
Reply
BournIdentity at 06:56 AM, 28/09/2017 (2 years ago)
(46066 | Addicted Hero) (m)

Roll Eyes                                                                           
Reply
officynero at 05:38 PM, 30/09/2017 (2 years ago)
(1462 | Gistmaniac) (m)

huh
Reply

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