Kachikwu clarifies under recovery statement credited to him

Emmanuel Ibe Kachikwu, the Minister of State for Petroleum Resources,has clarified statement credited to him him by Media houses in the country that “Nigeria currently incurs over N1. 4 trillion till date as under-recovery or losses on the importation and sale of petrol”.

At a Workshop on the Harmonization of Liquefied Petroleum Gas (LPG) Regulatory Requirements which held in Abuja last Thursday, Kachikwu in a chat with journalists, disclosed that there was some form of under-recovery.

The Minister clarified in a statement issued on Monday by the Ministry of Petroleum that the details of the under-recovery figures and circumstances surrounding it will be provided by the Nigerian National Petroleum Corporation (NNPC).

He re-emphasized that the NNPC was in a best position to give the accurate figures of the amount of under-recovery involved as that is the body currently importing most of the Premium Motor Spirit (petrol) retailed in Nigeria.

 

HARRISON EDEH, ABUJA‎