Mele Kyari - N145 per litre not sustainable

 

General Manager of the Crude Oil Marketing Department of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, stated while speaking at the 10th Oil Trading and Logistics Africa Downstream Week in Lagos says the sale of petrol at N145 per litre is not sustaining due to the current economic recession.

He said

“It is impossible for this government to announce tomorrow that petrol is about N150. This government cannot sustain it. That is the truth. The people will not take that number. But that is why the suppliers now are not importing. It is not about the foreign exchange. We are in subsidy regime absolutely, there is no way you bring product today and take it and sell at N145 and get back your money, and make profit. That is not possible. You can see some marketers saying that fuel is N138. It is because they did not import. Somebody has taken the heat of the price"he said

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About Oluwaseun Oladoja

A Computer Science Student, Writer, Serial Entreprenuer with love for infotech. Editor-In-Chief and Director of Brand NewsReportage.com.ng