Petrol price shouldn’t be above N150 per litre, says PDP

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BY MAYOWA SAMUEL

The People’s Democratic Party has condemned the recent hike in fuel price in the country.

Speaking through its National Publicity Secretary, Debo Ologunagba, the PDP stated that with the removal of subsidy on petroleum products, fuel should be sold for more than N150 per litre in Nigeria.

The PDP said that with deft, transparent and innovative management of resources, the economic potential, national comparative advantage and expanded value chain in refining capacity, the N150 price tag is possible.

Ologunagba said the rising fuel cost had worsened Nigerians’ economic conditions and charged the All Progressives Congress- led administration to seek ways to stabilise and grow the economy.

He also said the PDP was alarmed over the fall in the value of naira, explaining that the situation had forced businesses and production to shut down, with citizens losing their jobs and commercial and social activities distorted.

According to him, millions of families can no longer afford their daily needs as food, medication and other essential goods and services continue to skyrocket.

The PDP spokesperson said this was not the country that Nigerians yearned for.

He dismissed the argument of market forces and comparison of the price of fuel in Nigeria with other countries, saying the countries being mentioned have functional infrastructure, transportation systems and energy.

He added that the currencies of such countries were solid while their citizens earned far higher than what obtains in Nigeria.