Even as scarcity of kerosene still persists, the Executive Director, Department of Petroleum Resources Andrew Obaje has disclosed that pricing of kerosene is not yet subsidized
The DPR boss said this in Minna last week at the 47th annual international conference of the Nigerian Mining and Geosciences Society.
Even as scarcity of kerosene still persists, the Executive Director, Department of Petroleum Resources Andrew Obaje has disclosed that pricing of kerosene is not yet subsidized
The DPR boss said this in Minna last week at the 47th annual international conference of the Nigerian Mining and Geosciences Society.
He added that refineries in the country were not producing kerosene optimally, and that it subsidizing it would be a difficult task. He added that most of the products for consumption are imported at different production costs and pricing from different parts of the world.
He added that Nigeria was gradually moving toward an era where it would no longer have to foot the bill of subsidizing petroleum products.
"We are moving towards deregulation, but we have not fully deregulated kerosene or PMS yet. Very soon all the products would be deregulated and it will be the market that would determine the price of petroleum products," he said.
According to him, "the scarcity of kerosene today is as a result of the fact that our refineries are not producing to capacity. Had it been they were working very well, there would have been enough kerosene in the market. And because of that government may not want to subsidize the product while at the same time subsidizing PMS (fuel) because the cost will be too much”.
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