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PDP suggests downward review of fuel pump price

By Idowu Abdullahi,

The Peoples Democratic Party (PDP) has urged President Muhammadu Buhari-led government to further reduce the pump price from the current N121 to N70 per litre, saying only the pump price of N70 per litre will reflect current pricing template globally.

It explained that the fall in the price of crude oil in the international market had necessitated the call and that reduction of pump price to only N121 with the global reality amounts to fleecing Nigerians.

Recall that the Federal Government had embarked on phased price reduction in the last few months -from N145 to N125 then N121 on Tuesday.

But, the leading opposition party on Tuesday described the N121 price as highly provocative, and that such action was a testament to the insensitivity of the All Progressives Congress, APC, to the plight of Nigerians, particularly as the country battles the social and economic impact of the COVID-19 pandemic.

The PDP, through a statement released to newsmen by its National Publicity Secretary, Kola Ologbondiyan, challenged the Buhari-led government to publish the current landing cost, depot cost, trucking cost as well as the retail outlet administrative cost and show why the pump price should be above N70 per litre.

“The party insists that an N121 per litre price amounts to fleecing Nigerians of over N50 per litre of fuel. This is in continuation of the N55 per litre overcharge, which Nigerians had borne under the inappropriate N125 per litre, which prevailed for months, before it was brought down to N123.5 per litre, in spite of the crash in the international price of crude oil.

“The PDP rejects the unnecessary price pinching and demands that the federal government, should without further delay, implement the appropriate price as well as declare and account for the billions of naira accruable as overcharge since the crash in crude oil price.

“The failure to reduce the pump price as well as the non-declaration of the overcharge is completely unacceptable to Nigerians, as it only points to questions of corruption in the system.

“The PDP insists that the APC and its government have no justifiable reason to retain the pump price of fuel at over N70 per litre,” the statement read.

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