PDP seeks downward review of fuel price to N70

The Peoples Democratic Party (PDP) has restated its call on the Federal Government to slash the pump price of fuel to reflect the prevalent slump in the cost of crude oil at the international market.

The party insisted that government had no justifiable reason to continue to retain the pump price of fuel at N125 per litre despite the drastic crash in price of the product.

In a statement by its National Publicity Secretary, Kola Ologbondiyan, PDP noted that given the prevalent international price, the appropriate template for domestic pump price of fuel in Nigeria ought to be between N60 and N70 per litre in response to the prevailing variables.

The main opposition party stressed that the All Progressives Congress (APC) administration ought to have reduced the pump price earlier in the year to N90 per litre when crude oil price slumped to about $30 per barrel.

It wondered “why this administration had continued with N125 per litre, even with the further fall in the price of crude oil price.”