Former Managing Director of the Asset Administration Firm of Nigeria (AMCON), Mustafa Chike-Obi, says practical refineries wouldn’t scale back value of petrol.
Chike-Obi acknowledged this on his Twitter deal with on Sunday.
There are opinions that the price of Premium Motor Spirit (PMS) will scale back when the nation’s refineries are in good condition.
Chike-Obi declared that the idea will not be supported by information.
“Nothing main produced in Nigeria has ever been cheaper than the overseas various. Not sugar, rice, textiles, flour, and even cement. Importation of PMS will probably be banned and we can pay extra finally”, he tweeted.
The federal authorities introduced new ex-depot value of petrol on September 2.
Inside 24 hours, entrepreneurs jerked up pump value of petrol to N160 – N163 per litre from N140 – N143.
Nigerians, organised labour and the civil society have condemned the increment.