Former Petroleum Minister and Professor of Virology, Prof. Tam #David West has said that it was possible for the price of fuel to sell for N35 per litre in Nigeria.
He equally debunked reports that #Buhari was going to drop #fuel price to N40 noting that there was never a time that the #President-elect, General Muhammadu Buhari(retd) said he would reduce the pump fuel price to N40 per litre.
Speaking with VANGUARD, he said, “I wish to correct a wrong impression carried in the Vanguard of April 14 page 25 about me which was titled, “Buhari’ll reduce #petrol to N40-David West”. I did not make such categorical statement and I’m sure that Gen. Buhari will agree with me that I could not have made such categorical statement”.
“… Gen. Buhari and I have said it times without number that the phenomenon called subsidy is fraudulent. N40 per litre is my own figure which I have repeatedly used in all my write-ups and interviews on petroleum subsidy.”
However, while alluding to a comment made by a Texas professor who said petrol should sell for N35 per litre, he said it was possible for the price of fuel to be reduced drastically if all our four #refineries were serviced to produce at maximum capacity adding that for now the refineries were performing at minimum capacity.
The #pump price of fuel in the country is currently pegged at N87 per litre, though the product has sold for N100, N140, and even N250 in recent weeks.
It is believed that, should Buhari succeeds in dropping the price of petrol to N40 or even N35 per litre, the living condition of the average commoner in the country would improve tremendously.
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