By Myke Uzendu, Abuja
The Peoples Democratic Party (PDP) has rejected Federal Government’s adjusted pricing template that fixed ex-depot price of fuel to N108 liter, insisting on a new template that must accommodate a pump price of between N60 to N70 per liter to reflect the crash in the price of crude oil and petroleum products in the international market.
The party in a statement by its Spokesperson Kola Ologbondiyan on Thursday 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.
The PDP stressed that the N108 ex-depot price with a projected additional N9 per liter Expected Open Market price is unacceptable to Nigerians.
According to the statement, “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 lamented 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 interferences and allow market forces to determine pump price of fuel to reflect current global prices.
The party maintained 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.
The PDP demanded that the Federal Government should immediately reduce both the ex-depot and pump price as well as surrender the billion of naira accruable as overcharge from the inappropriate fuel pricing since the crash in crude oil price and channel the funds as palliatives to Nigerians.