As long as government continues to decide price of petrol, fuel shortages will continue and power supply will continue to be erratic.

That is what the Minister of State for Petroleum Resources, Ibe Kachikwu believes as he makes a case for fair pricing of petroleum products and gas.

He said it is important for the country to address issues surrounding the price of petroleum products and gas if Nigeria must overcome the challenges in the supply of petrol, gas and electricity.

Kachikwu also notes that in attempting to fix the right price for petrol or any other commodity in the oil and gas sector, caution must be applied.

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The oil minister stated these while speaking at the ongoing Nigeria International Petroleum Summit in Abuja.

He stressed that until the country addressed the pricing issue in the sector, fixing the existing refineries and encouraging private investors to build new ones would not solve the downstream problems.

“Ultimately, the greater challenge that this country would have and still has is that of pricing. Everybody wants power, available gas and freely delivered fuel with no queues, but people are not willing to make the sacrifices that are essential for these things to happen.

“Sometimes, it is a pricing issue. We have got to get to a point where we’ve got to deal with some of these issues in a manner that doesn’t hurt our people but at the same time create the level of efficiency as to remove arbitrages and patronages that are inbuilt in them,” Kachikwu said.

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