He emphasized that despite the increase from N617 to over N890 per litre, prices could be higher if Nigeria fully implements the Petroleum Industry Act (PIA).
He stated this during an interview on Arise TV’s on Thursday, September 5, 2024, which was monitored by TimesNow.com.ng.
Segun also explained the problems the company is facing regarding petrol supply.
He said
Segun further explained that the Petroleum Industry Act (PIA) provides for a free-market petrol pricing system where different players can source the product and sell at market-based prices.
He said that fully adopted would bring competition to the industry and quality services to Nigerians.
On scarcity, he assured that it will disappear from filling stations across the country in a few days when marketers recalibrate their metres as there are supplies.
Earlier, TimesNow.com.ng reported that Aliko Dangote has sent a message to Nigerians regarding petrol pricing from his refinery.
The refinery, which recently began production, has been praised as a game-changer, and Femi Otedola has also expressed excitement.
Petrol from the refinery is expected to be available to Nigerians in a few days as NNPC and Dangote complete formalities.
Source: TimesNow.com.ng
