Petrol should be selling for below N70 now – Saraki

The senator representing Kwara Central Senatorial District, Dr. Abubakar Bukola Saraki, has challenged the Federal Government on its failure to reduce pump price following the drop in crude oil price in the international market.

Senator Saraki made this known at the palace of Olofa of Offa during the campaign of his party, the All Progressives Congress, on Sunday.

Saraki stated everywhere in the world, pump price has been reduced when international oil price falls.

He said the most recent was by Nigeria’s next door neighbour, Ghana, on January 1.

Saraki stated: “It is disheartening that President Goodluck Jonathan will allow a few cabal benefit at the expense of millions of Nigeria.

“It is common knowledge that when the price of crude oil falls, like it has done significantly in the international market, the price of refined petroleum should drop as well, which should translate to reduction at the pump.”

Senator Saraki stressed the need for FG to allow the Nigerian public benefit from the reduction of crude oil price in the international market by reducing price of Petroleum Motor Spirit, popularly known as petrol, to below N70.

In a statement by Saraki’s media aide, Bamikole Omishore, Saraki said the excuse that since Nigeria imports refined petroleum it doesn’t have to reduce pump price, is bogus.

Omishore stated information available to Saraki’s office shows clearly that the landing cost of petrol has reduced at least by N30 since November and further delay in the reduction of pump price for the benefit of Nigerians is questionable.