Plans by the Muhammadu Buhari-led administration to reduce fuel price to N100 per litre has been made public.
Speaking at a news conference on Tuesday in Abuja, the Senior Special Assistant to the President on Niger Delta Affairs, Ita Enang said the cost of petroleum products would crash when Nigeria refines the products locally.
According to him, the presidency in collaboration with the Federal Ministry of Finance, Budget and National Planning, has concluded plans to hold a national conference on integrating artisanal/modular petroleum refinery operations aimed at improving the capacity of the products and crashing the prices of petroleum products.
While noting that the conference will mobilise all Nigerian assets, including technologists, engineers,
those producing petroleum products at the creeks, and other relevant disciplines, Enang added that the summit’s outcome would help to crash the country’s prices of petroleum products.
“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.”
