From Olanrewaju Lawal, Ilorin
The immediate past Governor of Kwara State and Chairman, Senate committee on environment and ecology,Dr Bukola Saraki has said that since the fall in the price of crude oil at the international market, the federal government ought to have reduce pump prices of petroleum products in Nigeria to below N70.
Saraki stated this at the palace of Olofa of Offa in Offa local government area of the state during a campaign tour of the area on Sunday.
The APC leader in Kwara state argued that everywhere in the world, pump price has been reduced due to the price slash.
It is common knowledge that when the price of crude oil falls at it has done significantly, the price of refined petroleum should drop as well”.
He said that there was need for FG to allow the Nigerian public to benefit from the reduction of crude oil price in the international market by reducing price of Petroleum Motor Spirit popularly known as PMS to below N70
The former Governor who said there was no excuse that since Nigeria imports refined petroleum, the price could not be reduced stressing that international refineries have had to reduce their prices since cost of their unprocessed commodity has been reduced almost by 50% and that the landing cost of PMS has reduced at least by N30.