Group Managing Director of NNPC, Maikanti Baru, had a meeting
with former Group Managing Directors of the oil corporation at the
Transcorp Hilton hotel Abuja on saturday. A statement by the corporation, says the
former NNPC bosses expressed concerns over the current N145 per litre
pump price, saying it is no longer feasible.
According to them,
fluctuating foreign exchange rates as well as price-determining
components of the commodity are the major causes for the non-feasibility
of the current pump price. Part of the statement reads
“They (the GMDs) noted that the petrol price of N145/litre is not
congruent with the liberalisation policy especially with the foreign
exchange rate and other price determining components such as crude cost,
Nigerian Ports Authority charges, etc remaining uncapped”.
Among the former GMDs that attended the meeting
include HRM (Dr.) Edmund Daukoru, Chief Odoliyi Lolomari, Engr. Lawrence
Amu, Dr. Jackson Gaius-Obaseki, Dr. Thomas M. A. John, Engr. Funsho
Kupolokun, Engr. (Dr.) Abubakar Lawal Yar'Adua, Dr. Joseph T. Dawha
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