The Vice President, Prof. Yemi Osinbajo, has said the present administration intends to bring down the price of petroleum products in the country.
Osinbajo revealed this in an interview with Bloomberg during the week. He said the quickest ways to achieve this was by refining more petroleum products in the country and reducing the volume of imported products. He said while the country does not intend to sell the existing refineries owned by the government, it would encourage private investors to establish new ones.
“In the medium term we will be able to get cheaper pump-price oil because we will be importing far less refined petroleum,” Osinbajo told Bloomberg.
