Petrol price to fall in Nigeria, says minister


Nigeria’s Petroleum Resources Minister, Ibe Kachikwu, has predicted a fall on the price of petrol in the next four to six months.
Presenting his scorecard via a podcast released in Abuja, the minister said competition in the downstream sector of the industry would crash prices soon.
My guess is that you will see the prices tumble in the next four, five to six months. The market will be more stable and definitely the prices will be lower than what we see today,” he said.
There had been clamour for a reduction in the price of the product, given the sharp fall in the international prices of oil.
The argument has been that Pete cannot remain at the same high price of N145 while oil price is tumbling.


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