KACHIKWU AGAIN: Clearifies Report On N1.4tn Under-Recovery

Kachikwu PHOTO: NNPC


THE Minister of State for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu, has  clarified reports in been some national newspapers and online news platforms in which he was quoted to have said categorically that “Nigeria currently incurs over N1. 4 trillion till date as under-recovery or losses on the importation and sale of petrol”.

Rather, a statement signed by Idang Alibi,Director, Press and PR, Ministry of Petroleum Resources , said that the minister  only said at  a workshop on the Harmonization of Liquefied Petroleum Gas (LPG) Regulatory Requirements which held in Abuja last Thursday,  that there was some form of under-recovery. 

The statement also said that Kachikwu equally stated that the details of the under-recovery figures and circumstances surrounding it will be provided by the Nigerian National Petroleum Corporation (NNPC).

Alibi said that the minister 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.

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