By Abiola Olawale
The President Muhammadu Buhari’s administration said efforts are ongoing to reduce the pump price of Premium Motor Spirit (PMS) otherwise known as petrol to as low as N100 per litre.
Senator Ita Enang, the Senior Special Assistant to the President on Niger Delta Affairs disclosed this at a news conference in Abuja.
According to him, the federal government is set to hold a national conference which will focus on integrating artisanal/modular petroleum refinery operations to improve local capacity and bring down prices of petroleum products.
He noted that the conference will collaborate with the Federal Ministry of Finance, Budget and National Planning, adding that it is scheduled to hold on March 16 and 17, 2021.
Speaking on the importance of the conference, Enang said the outcome of the conference would help to crash fuel price in the country, currently between the range of N162 to N170 per liter.
He also added that the conference would be attended by all Nigerian technical stakeholders, including technologists, engineers, and other relevant disciplines, including those producing petroleum products in the creeks.
In his words, “As the cost of crude goes higher, the price of refined petroleum products goes higher, but if we refine these petroleum products in Nigeria, the cost will be very low. The intendment of the conference is to mobilise these resources so that we can bring the prices of refined petroleum products down to below N100 per litre.”
