The Federal Government is planning to reduce fuel price below N100 per litre.
The Senior Special Assistant to the President on Niger Delta Affairs, Ita Enang, disclosed this at a news conference on Tuesday in Abuja.
According to him, the government has concluded plans to host a national conference on the integration of artisanal/modular petroleum refinery operations to increase refining capacity and cause a drop in the price of petroleum products.
Enang said the aim of the conference is to integrate local refining capacity into the refining of petroleum products such as petrol, kerosene, diesel and other petrochemical products.
He added that the essence of the conference is to mobilise all Nigerian assets including technologists, engineers and other relevant disciplines including the persons who have been producing petroleum products at the creeks.
“As the cost of crude goes higher, the cost of refined petroleum products goes higher but if we refine these petroleum products in Nigeria, the cost will be very low,” he explained.
“And, 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.”
NAN reports that the conference which is jointly hosted by the Office of the President and the ministry of finance, budget and national planning, will hold on March 16 and 17.
KanyiDaily recalls that three months ago, the Federal Government reduced the pump price of petrol from N168 per litre to N162.44 per litre.