Stakeholders Anticipate Imminent Fuel Price Collapse bankpawa.co .uk

Stakeholders Anticipate Imminent Fuel Price Collapse

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The stakeholders in the downstream petroleum sub-sector have given Nigerians confidence that the energy sector’s continuing difficulties will soon be resolved by assuring a substantial reduction in the pump price of fuel.

In particular, they predict gas prices to fall in January when the Port Harcourt refinery in Rivers State is set to resume operations.

Following Tuesday’s inauguration of the Akwa Ibom State chapters of the two industry regulatory bodies at the Ibom Icon Hotel in Uyo, Akwa Ibom State, Kenneth Korie, National President and Chairman of the Board of Trustees (BoT) of NOGASA, and Dr. Billy Harry, his PETROAN counterpart, separately made these assurances.

To quote Korie:

There is hope, of course. In a statement made to the National Assembly, the GMD NNPC confirmed that. The opening of the Port Harcourt refinery has been a central theme of my speeches.

I can guarantee you that once our four refineries, including the Dangote Refinery, are operational, the price of petroleum products will drop significantly. The high exchange rate means that prices won’t fall quite as much as they did before, but they will be lower than they are now.

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