PDP Says ₦170 Fuel Price Is Unbearable

The People’s Democratic Party (PDP) has urged President Muhammadu Buhari to reverse the increase in the fuel pump price, which went from 159 to 170 naira per liter.

The party, in a statement issued by its national advertising secretary, Mr Kola Ologbondiyan, on Friday in Abuja, rejected the increase, describing it as unbearable for Nigerians.

Ologbondiyan said it was also unacceptable given the prevailing economic crisis Nigerians already face.

He said the PDP insisted that the increase in the price of the bomb would worsen the already “suffocating economic situation” in the country.

He added that such a hike would be an additional log tied to the economic neck of Nigerians.

Ologbondiyan said the government had no justification to increase the cost of fuel above N100 per liter, let alone N170.

He said there was no such justification when there were practical options to keep prices affordable given Nigeria’s production capacity and potential.

Ologbondiyan regretted the continued increase in the fuel pump price.

He added that the government had yet to clarify the parameters that were being used for the price increase in relation to Nigerian production, export and accumulated income.

He said energy officials had concealed facts about the status and volume of oil production, sales and accumulated revenue.

This, according to Ologbondiyan, added to the government’s inability to fix our refineries and end crude theft.

He added that fraud in the management of the country’s oil resources was responsible for the high costs and hardships suffered by millions of Nigerians who could barely afford their meals and basic living necessities.

He called on President Muhammadu Buhari to take action in fulfilling his campaign promise to revamp Nigeria’s refineries, while urging him to get more competent hands to manage the oil sector.

Source: – Guardian

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