The Minister for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has stated that the petroleum sector is deregulated, News About Nigeria reports.
He made this known in a statement issued by his Special Assistant on media, Nnaamaka Okafor, on Friday.
He noted that the government is not responsible for fixing prices of petrol, adding that with the availability of products, the price will find its level.
Lokpobiri maintained that the government agencies cannot engage in the ongoing price dispute between Nigerian National Petroleum Company Limited and Dangote Refinery, stating that both enterprises are private.
He also stated that the Presidency has agreed with him concerning the pricing feud between the NNPCL and Dangote Petroleum Refinery.
Recall that Lokpobiri had stated shortly after a brief meeting he had earlier this month with the Vice President, Kashim Shettima, that the price of petrol in the country could differ in various locations, but by the time there is the availability of products across the country, the price will be stabilised.
He said, “What is important is that the government is not fixing prices. This sector is deregulated. And we believe that with the availability of products, the price will find its level. And this is important for Nigerians to know.
“There is enough product in the country to be able to meet the demands of Nigerians, there should be no panic buying. And we also believe that Nigerians need to know that the government is not fixing prices. That is what I want to convey to Nigerians.”
