Wednesday, April 11,
2018 05.24PM / Ministry of Petroleum Resources Press Release
The attention of the Honourable Minister
of State for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu, has been drawn to
certain reports in some national newspapers and online news platforms in which
he was quoted to have said categorically in an event that “Nigeria currently
incurs over N1. 4 trillion till date as under-recovery or losses on the
importation and sale of petrol”.
At a Workshop on the Harmonization of
Liquefied Petroleum Gas (LPG) Regulatory Requirements which held in Abuja last
Thursday, Dr. Kachikwu in a chat with journalists, disclosed that there
was some form of under-recovery. He equally stated that the details of
the under-recovery figures and circumstances surrounding it will be provided by
the Nigerian National Petroleum Corporation (NNPC).
He re-emphasized that the NNPC was in a
best position to give the accurate figures of the amount of under-recovery
involved as that is the body currently importing most of the Premium Motor
Spirit (petrol) retailed in Nigeria.
Director, Press and PR, Ministry of
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