Atiku draws template for fuel price reduction — PDP

The Peoples Democratic Party (PDP) has said that its Presidential candidate, Atiku Abubakar, had worked out a pricing template that could immediately crash the pump price of fuel in the country.

The party National Publicity Secretary, Kola Ologbondiyan, on Thursday in Abuja revealed that the party had been in high level talks with top international players in the oil and gas industry to achieve the target.

He said that the engagements had shown that the appropriate pump price of fuel in the Nigerian market should be within the borders of N87 to N90 per liter as against the N145 currently being charged.

According to Ologbondiyan, PDP completely rejects increase of the official prices of diesel and kerosene, saying such will bring more economic pressure on the nation.

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He said that most businesses and homes across the country heavily depended on the products for sustenance.

Ologbondiyan said with the current price template of crude oil in the international market, the All Progressives Congress administration had no justification to keep the pump price of fuel at N145 per liter.

He alleged that for every N145 paid for a liter of fuel a hidden N58, which Nigerians have continued to pay since the fuel price was increased from N87 to presumably subsidized cost of N145, was being diverted.

Ologbondiyan urged Nigerians not to despair as Atiku had already worked out a blueprint that would ensure appropriate pricing template and free resources to guarantee availability of product on a national pricing regime.