PDP Rejects N121 Petrol Price, Insists On N70 Per Litre

The People’s Democratic Party (PDP) has asked the federal government to stop fleecing Nigerians with “high fuel price” and reduce the pump price to N70 per litre to reflect the appropriate pricing template following the fall in the price of crude oil on the international market.

The PDP in a statement on Tuesday by its National Publicity Secretary, Kola Ologbondiyan rejected the N121.50 per liter price announced by the federal government, describing it as highly provocative.

“The party insists that a N121 per litre price amounts to fleecing Nigerians of over N50 per litre of fuel.

This is in continuation of the N55 per liter overcharge, which Nigerians had borne under the inappropriate N125 per liter, which prevailed for months, before it was brought down to N123.5 per liter, in spite of the crash in 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. It again challenged the APC administration to disprove Nigerians by immediately publishing the prevailing landing cost, depot cost, trucking cost as well as the retail outlet admin cost and show why the pump price should be above N70 per liter.

“The party urged the National Assembly to protect the interest of the people by using their legislative instruments to prevail on the Federal Government to implement the appropriate fuel pricing and account for the overcharges.”