FG intends to bring the price of fuel below N100
According to the federal government, a plan to hold a national conference on integrating artisanal/modular petroleum refinery operations to improve production capacity and lower petroleum product prices has been finalized.
Ita Enang, the President’s Senior Special Assistant on Niger Delta Affairs, revealed this during a press conference in Abuja on Tuesday.
The Presidency will host a conference on March 16 and 17 in collaboration with the Federal Ministry of Finance, Budget, and National Planning.
Enang stated that the outcome of the summit would assist in lowering the country’s petroleum product prices. The conference, he claims, will mobilize all Nigerian assets, including technologists, engineers, and other relevant disciplines, such as those who produce petroleum products at the creeks.
“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.”