Actual cost of petrol is N39.50 per litre – Coalition

AGAINST claims by the Federal Government that it was subsidizing fuel with over N1.3 trillion, it has been revealed  that Nigerians were already over-paying for fuel, as the actual cost of a litre of petrol ought to be N39.50k.
This was disclosed in Benin, Edo State, yesterday, in a communiqué at the end of a Town Hall Meeting organised by a Coalition to Save Nigeria, CSN, made up of Nigeria Labour Congress, NLC; Nigerian Bar Association, NBA; Nigerian Medical Association, NMA, civil society organisations, professional bodies, students, market women and artisans.

According to the communiqué, “Nigerians are prepared to resist the decimation of their lives by mobilising professional organisations, labour and the great people to resist fuel price increase that has been tagged subsidy removal.”

The communiqué further said if the government could not check corruption in various ministries, departments and agencies, it should admit it and quit for those who have the capacity to do so.

While saying the government could no longer be trusted, participants at the Town Hall meeting called for downward review of pump price of fuel to N39.50k per litre, just as it called on government to account for the excess money for fuel price increase since June 1999.

“Ngozi Okonjo-Iweala, having demonstrated lack of adequate knowledge of the working of the Nigerian economy, and being the eye of the World Bank ‘policy trinity’ of the elimination of the public sphere, total liberation for corporations and skeletal social spending, therefore should be removed as minister,” the communiqué said.

Former Academic Staff Union of Universities, ASUU, President, Prof. Festus Iyayi, in his speech on the occasion advanced reasons why Nigerians should not accept fuel price increase, insisting that the petroleum products market has since been fully deregulated.

Culled from Vanguard Newspapers