Timipre Sylva on hike of petroleum.

 I will not feel bad buying petroleum at the rate of 300 Naira per litre.

Fielding questions from journalists during the 16th edition of the President Muhammadu Buhari Administration Scorecard (2015 – 2023) on Monday, January 9, Sylva said;

“You asked if we can achieve N40 per litre? I will say ‘yes’ but this is dependent on if we are able to also achieve, within this period, improvement in exchange rate.

“If we can achieve one dollar to one naira exchange rate within this time, we would also be able to improve on the pricing because these things are dependent on other factors; the exchange rate is also a factor. That’s just in the lighter mood but seriously speaking, I commend the agencies under the ministry for the hard work…the management of the supply situation, under this subsidy regime is not easy.

“We must all agree, so much money is being burnt in our vehicles but somehow, we have to scoop funds, to continue to keep the country wet.

“The N40 per litre pricing is not something that is realistic. But, as you asked me, how I would feel as a private citizen, to buy petroleum product at N300 per litre, frankly, I would say I won’t feel bad knowing the kind of situation and if you compare Nigeria to other countries, then, you would also understand. If you convert the N300 to other currencies, then, you would probably understand.”