The Peoples Democratic Party, PDP, has rejected the new ex-depot price of N108 per litre of the Premium Motor Spirit insisting on a new pricing template that must accommodate a pump price of between N60 to N70 per litre to reflect the crash in the price of crude oil and petroleum products in the international market.
This is even as the party described the N108 ex-depot price as fraudulent and a far cry from the appropriate pump price template that should not exceed N70 given the prevailing situation in the international oil market.
In a statement issued by the national publicity secretary of the party, Kola Ologbondiyan, the PDP maintained that the N108 ex-depot price with a projected additional N9 per litre Expected Open Market price is “completely unacceptable to Nigerians.”
The statement read: “The federal government has continued to shroud the indices and parameters it is using in determining domestic prices of petroleum products in secrecy. Such parameters obviously cannot be in tandem with the appropriate situation in the global industry.
“The PDP laments that the All Progressives Congress, APC-led federal government has continued to shortchange unsuspecting Nigerians since the beginning of the year by refusing to end its corrupt interferences and allow market forces to determine pump price of fuel to reflect current global prices.
“Our party insists that the federal government has no reason to continue to fleece Nigerians particularly in the face of worsening economic crisis occasioned by the COVID-19 pandemic which it had also failed to effectively handle. (Vanguard News)