Mr. Mele Kyari, the new Nigeria National Petroleum Corporation NNPC, Group Managing Director has hinted that the county may be considering petrol price hike.
Kyari said the county can no longer carry the burden of petrol subsidy.
He pointed out that the county has to address the issue of pump price if it must make progress.
The new NNPC boss made the disclosure on Wednesday when the National Assembly granted audience to the country heads of revenue generation agencies.
He told the Lawmakers that other Africa countries buy petrol at N350 per litre.
He attributed the high cost of petrol in other Africa countries as an inceptive for petrol smuggling.
He also disclosed that the Nigerian pump price of N145 was the cheapest in the whole West Africa.
” It is even very difficult for us to make the Petroleum Product available at N145″.
The NNPC boss say that Nigeria was yet to earn the expected revenue she generates from crude oil from its gas production and promise to reverse the trend.