The Peoples Democratic Party (PDP) has urged President Muhammadu Buhari to reverse the increase in the pump price of fuel, which was jerked up from N159 to N170 per litre.
The PDP, in a statement issued by its National Publicity Secretary, Mr Kola Ologbondiyan, on Friday in Abuja, rejected the price increase, describing it as unbearable for the citizens.
Ologbondiyan said that the petrol price increase was also unacceptable, given the prevailing economic challenges already confronting Nigerians.
He said that the PDP believed that the increase in the pump price would worsen the already “suffocating economic” situation in the country.
He added that such hike would be “an additional log tied on the economic neck of Nigerians”.
Ologbondiyan said that the government had no justification whatsoever to increase the cost of petrol to anything above N100 per litre, let alone N170.
He said that there was no such justification, as there were other practical options to maintain affordable petrol price, given Nigeria’s oil production capacity and potential.
Ologbondiyan decried the continuous increase in the pump price of fuel.
He stressed that the government had yet to come clean on the parameters being used for the hike in prices vis-a-vis Nigeria’s oil production, exports and revenues.
He said that energy officials had withheld certain facts regarding the status and volume of the country’s oil production, sales and revenue.
He said that the problem was further compounded by the government’s inability to fix the country’s refineries and stamp out crude oil theft.
Ologbondiyan said that the corruption in the management of the country’s oil resources was responsible for the high cost of living and the hardship suffered by most Nigerians who could barely afford their meals and basic necessities of life.
He called on President Muhammadu Buhari to take steps to fulfil his campaign promise to revamp the country’s refineries, while engaging more competent hands to manage the oil sector.