
The Minister of State for Petroleum Resources, Ibe Kachikwu, on Wednesday, said any Nigerian entity is now free to import petroleum products into the country, subject to existing quality specifications and other guidelines issued by regulatory agencies.
Kachikwu pronouncement effectively ended the fuel subsidy regime.
The minister said that all Oil marketers will be allowed to import the product on the basis of foreign exchange procured from secondary sources and that PPPRA template will reflect this in the pricing of the product.
Further, Kachikwu said that new price band effective from 11th May, 2016, would put the retail price of petrol at N145 and below.
















