• By ogugua
    In
    Sep 08, 2017
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    By Philip Atume

    Engergy Analyst, Dolapo Oni, said that the fall in price of petrol is an implicit subsidy because, NNPC has undertaken full imports of most products.

    Speaking as a guest on "Today on STV" Mr. Oni said the cost of bringing gasoline is essentially higher and NNPC sells at a lower price, which makes marketers buy and sell at lower price.

    He said the initial price that was 135-145 Naira has been cut down by NNPC to N130 naira which enables marketers to lift at 130 naira to sell at 140- 142 Naira.


    He also said, as for the cooking gas which was 5,000 naira as at three months ago, it has been brought down to N3,500 naira.

    He stressed that this development is not long term or sustainable and the ideal situation is that they should allow the market determine where the price is or should be.

    He stated that the real dynamics to the issue is the exchange rate, asking how Nigerians can get the exchange rate down and get more FX in circulation.

    Dr. Azubuike Azubuike, also shared his view, concerning the drop in oil price saying that the price should be lower than what it is now.

    The Zonal Chairman, PPENGASSON, South South, said government has a lot to do instead of people celebrating the drop in prices of oil.

    He said further that Nigeria always have good policies but implementation is always the problem; stating an example of Nigeria having the best budget in the world but is not properly implemented.

    He said, “This is not the time to celebrate, the government needs to do a lot, Nigerians are suffering and refineries have not improved and before the advent of this government there was nothing like subsidy.”

    He also said government should be sincere and honest, stop doing the same thing all time expecting to get it right and the product should be refined here.

    He concluded, urging the government to allow Nigerians benefit from the resource in their home, so that more revenue can be generated and more employment can be created.


     

     

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