Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has defended Nigeria’s petrol pricing, saying the country’s pump price remains lower than that of the United States.
Lokpobiri made the comment during an interview with journalist Seun Okinbaloye while explaining why Nigerians continue to feel the impact of global crude oil prices despite increased local refining.
According to the minister, the fact that crude oil is produced and refined locally does not remove Nigeria from the international oil market.
“Seun, we are already benefiting. That is why our price is lower than that of the US,” he said.
Lokpobiri also argued that the United States, despite being one of the world’s largest crude oil producers and having significant refining capacity, still sells petrol at a higher price than Nigeria.
“Today the price in the USA is higher than that of Nigeria,” he added.
When asked whether the Federal Government could reduce or increase petrol prices, Lokpobiri said it could not arbitrarily determine pump prices because the downstream sector had been deregulated.
“No, we don’t. Because it is completely deregulated in line with global best standards,” he said.
The minister maintained that crude oil and refined petroleum products are globally traded commodities and said Nigeria could not isolate its petrol pricing from international market conditions. Recent reports put petrol at about ₦1,395 to ₦1,430 per litre at some NNPCL outlets in Abuja following another price adjustment.
Lokpobiri’s comments have generated reactions online.
@ericdvirus.maduche: “How much is the miminum wage in USA? Heineken beer”
@adegoke.o.adewale: “Is it the man that said that or the Beer?”
@ezekiel.bitrus.96: “What do you expect from someone who just took a bottle of heineken?”
@moses.umoren.251316: “Do you also compare the economy of US with NIGERIA?”
@osita.progress.50: “No wonder, he always high of Heineken”
@profile: “Can someone be sharing name with beers and still be talking normal?”
@jasmine.mildredjoseph.7: “Bar man bring 2 bottles of Heineken,one for me one for lokpobiri.”
@IsaacEmmanuelOjochenemi: “True true Nigeria is trying.”
@ifeanyi.okolo3: “Said by Heineken, okay”
@IgweBest: “If it’s not Heineken Effect why will a mentally stable man compare Nigeria to U.S”
@funkelewisjacob: “I no fit laugh Abeg it’s too early”
@emeka.jonathan.39: “Thunder please do your work for me. Metcheeew 🚶🚶”
@paul.agiliga.96: “Have you considered the values of both currencies Naira/Dollars?”
@richie.franklin.589: “22 bottles of Heineken motivated speech”
@PrinceGideon: “See human being mindset how much is USA minimum wage??”
