THE All Progressives Congress in Oyo State has demanded from the Federal Government, an immediate reduction in the pump prices of petroleum products in view of the crash of the price of crude oil in the international market.
In a statement in Ibadan on Sunday by its Director of Publicity and Strategy, Olawale Sadare, the APC recalled that President Goodluck Jonathan and his economic team had arrived at N97 per litre of Premium Motor Spirit in 2012 citing skyrocketing prices of crude oil in the global market which necessarily rubbed on high landing cost of imported petroleum products, particularly the PMS, otherwise known as petrol.
Sadare said, “The oil price has fallen by 49 per cent from 2013 prices and Jonathan administration still claimed it spent a whooping N971bn on its voodoo subsidy payment in 2014. Does it mean that Nigeria has been buying refined petroleum products at the same rate from nations with functional refineries despite the crash in crude oil prices? How come Ghana was able to implement a 13 per cent reduction in the prices of same products in its local market?" ...Punch
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