Petrol can sell for N70 if our assets are well managed — PDP

The Peoples Democratic Party on Friday advised the Federal Government against increasing the pump price of petrol.

The party in a statement by its National Publicity Secretary, Kola Ologbondiyan, in Abuja said any contemplation to increase pump price of petrol to N212 would worsen the economic and social situations of Nigerians.

This was in reaction to a debunked report that the Petroleum Products Pricing Regulation Agency on Thursday night released a template that a litre of fuel would now be sold for prices ranging from N209 to N212 per litre for March.

Ologbondiyan said the N212 per litre reportedly contemplated in the March pricing template was not in the best interest of Nigerians.

He said: “It is a barefaced fact that there is no way that Nigerians can survive such hike in fuel price, which will worsen the already agonizing economic situation in the country.

“Our party maintains that with an honest and transparent administration of our national production capacity and potentialities, domestic price of fuel should not exceed N70 per liter.”

Ologbondiyan said any increase in fuel price would be unacceptable with over 100 million citizens living in abject poverty, 23 per cent unemployment rate and many more living below N500 a day.

He advised government to save the nation by ending every contemplation of fuel price increase, particularly at the time Nigerians were expecting a downward review in prices.

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