It is a shame that we still import fuel – Buhari's minister Kachikwu reacts to planned N5 increase in price of petrol

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– Nigerians and the various unions in the country have been kicking against the planned increase in the price of petrol as deliberated by the Senate

– Dr Ibe Kachikwu, the country’s minister of Petroleum Resources, has reacted to this issue threatening to turn the government against Nigerians

Nigeria’s minister of state for Petroleum Resources, Dr Ibe Kachikwu, has declared that it is shameful for the country to still be importing finished petroleum products.

Nigeria has some refineries but they have always performed below expectation despite various attempts to strengthen their operations.

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Kachikwu was reacting to the speculations of a N5 increase in the price of the premium motor spirit (PMS) following a recent move by the country’s Senate.

Kachikwu had earlier promised that importation of fuel would end by 2019

In a series of tweets, the minister, who had recently promised that Nigeria would stop importation of oil by 2019, added that the federal ministry of Petroleum Resources was serious with ending this challenge.

The minister, who said this in a series of tweets on Tuesday, also cleared the air on reported imminent fuel hike.

He said: “State of Refineries: It is shameful that we’ve continued to import finished products. We need to stop. We are committed to this.

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“On PMS cost and possible increase: There is no consideration that is currently on the table. We hope to remain within N145 band.

“Subsidy Regime: Upfront subsidy payment has

been obliterated. What we have currently are differences being picked by NNPC group.”

He expressed hope that the recently passed Petroleum Industry bill would meet the challenges in the sector.

ZENITHBLOG.com reported on Tuesday, June 6, that the federal government reassured Nigerians and told them to ignore speculations that it was planning to raise the pump price of petrol by N5.

The Petroleum Products Pricing Regulatory Agency (PPPRA), said it had observed the growing speculation on an imminent increase N5.00 per litre.

The agency said it understood the concerns of Nigerian consumers and would do everything within its capacity to keep the price the unchanged.

Watch as Rotimi Amaechi, Nigeria’s transport minister, recently spoke about the achievements of the Muhammadu Buhari administration in two years:

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