Kachikwu says no N5 increase on PMS, declares fuel importation “shameful”

Minister of State for Petroleum Resources, Ibe Kachikwu, says it was shameful that the country has continued to import finished petroleum products.

Noting that this has to stop, Kachikwu assured that the Federal Ministry of Petroleum Resources was committed to​ putting the situation to an end.​.

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

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

“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 @NNPCgroup.

“Recently passed Petroleum Industry Governance Bill: I’ve studied it and it is impressive. It captures aspirations for @NNPCgroup.​”​

Recall that Kachikwu recently vowed to resign if Nigeria still imports fuel by 201​9.​