FG should reduce petroleum prices

Changes in petroleum prices should also affect the market price of such products. For a large oil producing nation like Nigeria, now that the price has fallen significantly, the pump price of fuel should be reduced to N50 to N60 per liter.It is sad that even after the fuel subsidy demonstrations that resulted in the […]

Changes in petroleum prices should also affect the market price of such products. For a large oil producing nation like Nigeria, now that the price has fallen significantly, the pump price of fuel should be reduced to N50 to N60 per liter.
It is sad that even after the fuel subsidy demonstrations that resulted in the death of several people, Nigerians still buy petrol at a very high price. In fact, it is the highest in the league of oil producing countries.
Despite the fact that subsidy was partially removed, it is quite verifiable that only a cabal of less than 1 per cent of Nigerians are benefiting from the accruable resources. Even the Subsidy Reinvestment Project (SURE-P) is not making any positive impact to Nigerians.
While it is true that the fall in oil prices has immensely affected Nigeria’s economy and foreign exchange, there is no reason why Nigerians will be made to buy petroleum products higher than any other country in the world.
The change in petroleum prices and value should reflect in Nigeria. We should not be made to suffer for an unfortunate situation we did not create. Why should the helpless masses always be at the receiving end? The Federal Government, through the relevant agencies, should work out modalities for reducing petrol pump price. Other countries have done that; why would Nigeria’s case be different?
Comrade Abdulbaqi Jari, Katsina, Katsina State.