The new Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Mr. Mele Kyari, thursday disclosed that the petroleum price of N145 per litre obtainable in Nigeria is the cheapest in the West African sub-region. Kyari, who spoke yesterday evening while making submissions on revenue generation before the leadership of the Senate, identified the low fuel price and smuggling as the two key factors hampering high revenue generation of the agency. “The N145 per litre fuel price regime Nigeria runs against the N350 per litre most of the other West African countries operate, encourages smuggling, which invariably affected revenue generation for the agency and by extension the country. It is even very difficult for us to make the petroleum product available at N145”. The NNPC boss who added that Nigeria is not benefiting optimally from gas production, however, stated that as far as projected daily oil production […]