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DPR: Petrol price may increase to N1,000 per litre if subsidy is removed

Advertisement NNPC), had said that The price of premium motor spirit (PMS), better known as petrol, currently hovers around N162/N163 per litre. Sarki Auwalu, DPR director, while answering questions after delivering a paper titled, ‘A Discussion on the Future of the Nigerian Petroleum Industry,’ in Lagos, recently, acknowledged that Nigeria was  Advertisement He said eliminating it would require making alternative fuel available to Nigerians and that failure to do that will plunge Nigerians into paying higher petrol prices when subsidy is removed. Auwalu added that Nigerians may be paying as high as N1,000/litre on petrol when subsidy is removed and when alternative energy or autogas gas policy becomes fully operational.

DPR: Without Alternative Energy, Petrol Price Will Rise on Subsidy Removal

Peter Uzoho The Department of Petroleum Resources (DPR) has warned that the pump price of petrol in the country may rise up to as much as N1000 per litre when petrol subsidy regime comes to an end without an alternative energy source. The DPR stated this just as some oil and gas experts have advocated for a measure from the government that will ensure that Nigeria gets commensurate value from its abundant oil and gas resources like its fellow oil producing nations. The Director of DPR, Mr. Sarki Auwalu, said this while responding to questions and comments generated by a paper he delivered in Lagos, recently, at the Second Quarter, 2021 Business Dinner of Petroleum Club Lagos.

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