The Peoples Democratic Party (PDP) has insisted that its demand on the federal government to reduce the price of petroleum products to N70 has not changed.
The PDP National Publicity Secretary, Kola Ologbondiyan, said Monday that the party’s position remains that market forces are truly allowed to determine the price of petroleum products in Nigeria, stressing that Nigerians will not be buying fuel for a price beyond N70 per litre.
Ologbondiyan explained that “as a party, and on behalf of Nigerians, we will strictly monitor the deregulation process and ensure that this is not manipulated against the interest of ordinary Nigerians.
“Nigerians are aware that prior to his emergence as the President, Muhammadu Buhari had declared fuel subsidy a fraud. In the last five years, there have been over charges on fuel price particularly since the fall in oil price in the international market, he added.
He continued “our party invites the federal government to declare and surrender the proceeds of the overcharges for the benefit of Nigerians for product availability at affordable prices.
He continued “government should not hide under the deregulation to sweep the issue of overcharge and subsidy fraud under the carpet.
“Government should also recover N14 trillion stolen in the oil sector in the last five years and use it for the benefit of Nigerians.
“If the N14 trillion is recovered and injected into our economy, we will revamp our refineries, push prices further down and create jobs and employment opportunities”.
