PDP says N170 fuel price unbearable

PDP says N170 fuel price unbearable

- Buhari has been urged to reverse the hike in fuel price

- The call was made by the leadership of opposition PDP on Friday, November 13

- According to the party, the price is unbearable to Nigerians

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The Peoples Democratic Party (PDP) has urged President Muhammadu Buhari to reverse the increase in the pump price of fuel which increased from N159 to N170 per liter.

The party in a statement issued by its National Publicity Secretary, Mr Kola Ologbondiyan, on Friday in Abuja, rejected the increase describing it as unbearable to Nigerians.

Ologbondiyan said it was also unacceptable given the prevailing economic crunch already confronting Nigerians.

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

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

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

He said that there was no such justification when there were practical options to maintain affordable price given Nigeria’s production capacity and potentialities.

Ologbondiyan decried the continuous increase in the pump price of fuel.

He added that government had yet to come clean on the parameters being used for the hike in prices vis-a-vis Nigeria’s production, export and accruing revenue.

He said that energy officials had witheld the facts regarding the status and volume of oil production, sales and accruing revenue.

This according to Ologbondiyan was in addition to government’s inability to fix our refineries and end crude oil theft.

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

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He called on President Muhammadu Buhari to take steps in fulfillment of his campaign promise to revamp Nigeria refineries while urging him to get more competent hands to run the oil sector.

PDP says N170 fuel price unbearable
PDP has urged President Muhammadu Buhari to reverse the increase in the pump price of fuel which increased from N159 to N170 per liter. Credit: Legit.ng collage
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Legit.ng recalls that Nigerians recently spoke against a previous sudden increment in the pump price of petroleum by the federal government.

Labour unions in the country had planned to go on strike over the increase, but the planned industrial action was called off after negotiations with the government.

In another news, a report by This Day indicates that an explosion has occurred at Oil Mining Lease (OML) 40, leading to the shut-in of about 10,000 barrels per day of crude oil.

The regrettable incident was confirmed by the group general manager, group public affairs division of NNPC, Kennie Obateru. He added that there was no fatality or injury and no significant spill.

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The national oil company disclosed that there was significant damage to the marine storage vessel, MT Harcourt, which it projected would impact production by about 10,000 barrels of oil per day.

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Nigeria at 60: A history of fuel price increase since Independence | Legit TV

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