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Vice President, Kashim Shettima met with the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, the National Security Adviser, Nuhu Ribadu and the Group Chief Executive Officer of Nigeria’s National Petroleum Corporation Limited (NNPCL), Mele Kyari at the Presidential Villa, Abuja.
The meeting was aimed at finding a lasting solution to the current outcry generated by the increase in the price of premium motor spirit (PMS), popularly known as petrol.
Addressing State House Correspondents at the end of the meeting, which lasted about 30 minutes, Minister of State for Petroleum Resources, Heinekin Lokpobiri, said they were summoned by the Vice President as directed by President Bola Tinubu.
The Minister added that there is no course for panic because there are enough petroleum products in stock.
Lokpobiri reiterated that contrary to insinuations, the prices of petroleum products are not set by the government.
Executive Director of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Mr Ugbogu Ukoha, said all regulatory efforts are now geared towards stabilising supply across the country, with the resultant impact expected to be a stability of price.
Nigerians woke up to an unexpected increase in the pump price of petrol on Tuesday, from N617 to N897 per litre, generating public outcry but the government promptly cleared the air, saying it does not regulate prices.
Heinekin Lokpobiri-Minister of State for Petroleum Resources
Ugbogu Ukoha-NMDPRA Executive Director
Source: Swifteradio.com
