Fuel price: Nigerians should pay far less for petrol – Makinde questions pricing template
The Governor of Oyo State and presidential candidate of the APM, Seyi Makinde, has said Nigerians should pay significantly less for Premium Motor Spirit, PMS, popularly known as petrol. He disclosed this in an interview with Arise Television on Friday. According to him, there is corruption in the country's fuel pricing mechanism. He called for […] Fuel price: Nigerians should pay far less for…
Oyo State Governor Seyi Makinde, a presidential candidate of the APM, has called for significantly lower petrol prices in Nigeria. In an interview with Arise Television, he accused the country's fuel pricing mechanism of being riddled with corruption. Makinde urged the Federal Government and industry operators to disclose the pricing template.
He expressed his belief that Nigeria's former fuel subsidy regime was corrupt. The governor argued that the price of petroleum products should be lower than its current rate. As of the report, petrol prices in Abuja ranged from N1,325 to N1,420 per litre, while gantry and depot prices were between N1,215 and N1,280 per litre. The cost of crude oil had dropped to $96 and $88 per barrel for Brent and West Texas Intermediate, respectively.
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