This is coming in spite of the untold hardship faced by Nigerians across the country following the prolonged scarcity of the product.
Kachikwu disclosed this while speaking during an official visit to the Petroleum Products Pricing Regulatory Agency, PPPRA, in Abuja.
READ ALSO: Fuel Scarcity: FG Allocates 80% Of Product To The North, Remaining 20% To The South-West
During the visit, Kachikwu said the Federal Government would undertake a review of the PMS in the month of May.
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“The reality is that in the first three months of doing the price modulation, our over-recovery basically enabled us to save quite a lot of money and that is going to fund the gap that we see in April.
“But for May, obviously, the prices would have to be adjusted to mark the current trends,” he said.