By Ehi Ekhator
The Special Assistant Public Communications and New Media to Governor Ayo Fayose of Ekiti State, Lere Olayinka has stressed that Petrol pump price will sell above N100/litre in reality.
The federal government had said that pump price of petrol will sell at N85 or N86 per litre starting from January.
This was disclosed by the Minister of State for Petroleum , Dr Ibe Kachikwu on Friday in Port Harcourt.
Reacting to the plan, the governor’s aide said Nigerians are presently buying petrol more than the actual price, adding that there is no way any businessman would sell at the expected price after the government has succeeded in removing subsidy, which means the decision of the pump price has been handed over to the market forces.
Olayinka said “TECHNICAL, Petrol will sell at N85/litre. Realistically, Petrol will sell above N100/litre.
“Even at the present pump price of N87, Nigerians have been buying petrol at between N130 and N300 per litre in the last two months.
“To me, this announcement by the FG that petrol will sell at N85 per litre from January 1, 2016 is a deceit taken too far.
“When you remove SUBSIDY, it means you have handed the determination of Petrol price to the market forces – what you buy is what you sell. Therefore, fixing Petrol price after “Removing Subsidy” is a waste of time.
“By the way,what happened to Fashola’s position of last year that petrol should sell at N50/litre when Crude oil price was $66.27 per barrel?
“Now that Crude oil is less than $40 per barrel, shouldn’t petrol price come down to at least N35/litre?”
N85 per litre: A deceit taken too far - Lere Olayinka
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