ABUJA, (CAJ News) – THE Minister of State for Petroleum Resources, Ibe Kachikwu, is set to meet stakeholders in Nigerian oil sector to discuss prevailing issues in the industry.
The oil and gas are the backbone of Nigeria’s economy contributing annually $52.2 billion to the country’s estimated Gross Domestic Product (GDP) of more than $500 billion
He is billed to host a session with the Major Marketers Association of Nigeria, Depot and Petroleum Products Marketers Association as well as Jetty and Tank Farm Owners Associations and other relevant stakeholders in Abuja.
On Tuesday, he visited some retail outlets in Abuja.
On the day, he also directed the Department of Petroleum Resources (DPR) to ensure any petrol station caught hoarding the product was prosecuted.
“It is not just sealing the station that is the answer. It is penalizing them when they do these things and I hope the message goes out loud and clear,” he said.
The Minister also denied the rumour of a price reduction of petrol and asked the marketers to desist from hoarding by making the products available to the motorists.
– CAJ News