Summary
Heineken Lokpobiri, minister of state for petroleum resources (oil), says the federal government is not fixing the prices of petrol as the sector is deregulated.
Earlier on Thursday, Vice-President Kashim Shettima invited Mele Kyari, group chief executive officer (GCEO) of the Nigerian National Petroleum Company (NNPC) Limited, and Lokpobiri over the recent hike in the pump price of petrol.
Speaking to journalists after the engagement, Lokpobiri said prices will stabilise with adequate product supply.
Advertisement “What is important is that government is not fixing prices, this sector is deregulated,” the minister said.
Advertisement On September 3, the NNPC increased the price of petrol across its retail outlets.