Kachikwu said the price was fixed in the first quarter of 2016 when crude oil was selling for $49 and pointed out that with crude price rising to $67 a barrel, the pump price may no longer be sustainable.
Browsing: Ibe Kachikwu
Kachikwu however said the government has put various measures in place to address the issue of scarcity within the 18 months.
Kachikwu made the call on Thursday in Abuja during a public hearing organised by the National Assembly Joint Committee investigating the cause of recent fuel scarcity in the country.
Kachikwu said this on Thursday in Abuja during a one-day public hearing of the National Assembly Joint Committees on Petroleum (Downstream) investigating the causes of recent fuel scarcity recorded across the country in December 2017.
The meeting, which was presided over by the Chief of Staff to the President, Alhaji Abba Kyari, was held at the old Banquet hall of the Presidential Villa, Abuja.
The meeting was also attended by the Minister of Petroleum, Ibe Kachikwu; Director-General of the Department of State Services, Lawal Daura; and the Group Managing Director of the Nigeria National Petroleum Corporation, Maikanti Baru.
In a statement by the Director of Press in the Ministry of Petroleum Resources, Idang Alibi, the Minister said the message and its content are false.
An industry player who spoke on condition of anonymity, described the said “memo” being circulated by a section of the online media as “non-existent and another grand design by the Minister and his cronies to discredit and embarrass President Muhammadu Buhari and his Chief of Staff, Abbah Kyari”.
Osinbajo started the visit on Sunday, calling at Hayden Petrol Station on Lagos Island and Oando in Lekki, both in Lagos State.
It was a huge surprise to many Nigerians last Thursday when Wike, in company with the former Peoples Democratic Party Acting National Chairman, Prince Uche Secondus, stormed the Government House, Yenagoa. After the customary photo ops, Governor Dickson and his guests met behind closed-doors for about three hours. Both governors emerged from the meeting hugging each other right before the inquisitive Government House correspondents, whom they later addressed
Kachikwu stated this at the 2017 Society of Petroleum Engineers’ Nigeria Annual International Conference and Exhibition in Lagos
A statement in Abuja on Wednesday by the Director of Press in the Ministry, Idang Alibi, said the policy articulated the vision of the Federal Government for improving the petroleum sector.
The minister made the call in Abuja while addressing the sixth Sustainability in the Extractive Industries Conference, organised by the CSR-in-Action in Abuja for stakeholders in the extractive industry.
Kachikwu made the call on Tuesday in Abuja during National Summit on Establishment, Management and Operation of Truck Transit Parks in Nigeria.
He made the assertion while presiding over an inter-ministerial follow-up meeting with relevant government Ministries, Departments and Agencies involved in rebuilding the Niger Delta
Among those who met with the Acting President were the President of the Nigeria Labour Congress, Ayuba Wabba; his deputy, Tunde Aremu; the President of the Trade Union Congress, Baba Gaigama; and representatives of Civil Society Organisations
Kachikwu stated this at a stakeholders’ meeting organised by the Ministry of Niger Delta Affairs on Tuesday in Abuja
The House called on the minister, the National Petroleum Investment Management Services and Shell to suspend the planned relocation and allow it the opportunity to intervene
According to Kachikwu, net payments to the Federation Account are expected to double from about $7 billion to over $14 billion by 2020
This will be the first time since 2008 that OPEC would be accomplishing such a feat, which is expected to tackle the key challenge of low price of oil in the international market