The ascent from N138.62 to N151.56 per liter of petroleum in Nigeria has collected loads of responses, with negative vibes outperforming the positive. Administration was not forgotten about as the Senior Special Assistant, Media and Publicity to the President, Malam, Garba Shehu, swam in with regards to his lord.
He urged Nigerians not to be impacted by the arrangements of the opposition People bunches Law based Gathering, PDP. PDP had in its reaction to the development in fuel cost from N148 to someplace in the scope of N158 and N162 per liter by oil promoters accepted: “The PDP altogether excuses this undertaking to turn the extension in fuel cost on expected removal of oil sponsorship.
“Our gathering attests that by expanding the cost of fuel from the N87 per liter it sold under the PDP to a horrifying N151 while simultaneously permitting the climb in power duty from N30.23 per kWh to over N66, the APC has left nobody in question that its plan is to exact agony and difficulty on Nigerians to fulfill their egotistical advantages.” Responding through his confirmed Twitter handle, Shehu stated: “Don’t permit the PDP to delude you. In the midst of intense deficiencies, they sold petroleum at N600 per liter on Easter Sunday in 2013.” He went further to validate his case by distributing the first page of the Punch paper where it was decorated: ‘Petroleum sells for N600 per liter’.
In a completely deregulated system, fuel costs will go above N160. Unrefined is as of now low (@ $40/$45/bbl) so the current N160 at the pump can be considered as low.
If at any time crude gets to $100/bbl level, we should then expect far higher petroleum costs at the pumps….
But then how can we confirm if subsidy still exist or not?
Well, only time could tell…
Although a lot of people believe he was just trying to justify what they called the incompetence of the present administration due to lack of care for Nigerian businesses, the millions of Nigerians that just lost their jobs due to the pandemic, and the poor Nigerians who will feel the heat more because of the timing.
Obviously, it is easy to criticize than to construct. But then, Nigeria was earning enough money from crude to build 2 to 3 brand new refineries between 2010 and 2015, thereby removing the extra cost on the pump price of petrol incurred through imports. But PDP was too busy stealing. With this present administration clearly declared the removal of the fuel subsidy, Mallam Garba Shehu, many discerning Nigerians and even PDP members support the removal of subsidy and support the current method of determining prices but please do not use this argument to spoil this thing. It is baseless. PDP didn’t sell fuel at N600 — hoarders did.
Stop the mischief and let’s hope the process yield better result at the end.
The present administration should be tolerant of the frustrating situation of the masses considering the timing. A lot of people lost their jobs, many businesses folded as s result of the covid19 pandemic. You don’t expect people to be happy for the removal of the subsidy even though we hope it’s in the interest of the nation.