Kachikwu: No plans to increase fuel price, independent marketers should fix their own prices

He said three solutions are being considered:

“One is for the Central bank of Nigeria to allow the marketers access forex at the rate of ₦204 to a dollar as against the official rate of ₦305 to keep the pump price of fuel per litre at ₦145.

“Two, to give room for modulated deregulation where NNPC would be allowed to continue selling at ₦145 per litre in all its mega stations across the country while the independent marketers should be allowed to sell at whatever price is profitable to them in all their outlets.

“Three, to look at the direction of blanket subsidy for all the importers in bridging the gap, which would be like going back to a problem that had earlier been solved.”