FG extorts N1bn on fuel sale daily ' Buhari

The All Progressives Congress Presidential Campaign Council (APCPCC) has asked the Peoples Democratic Party (PDP) - led Federal Government to stop stealing from Nigerians and allow them to enjoy the relief that has come to consumers of petroleum products globally.A statement from the Directorate of Media and Publicity of the APC Presidential Campaign, headed by Garba Shehu, said it was disturbing that in spite of the fall in the global price of crude oil, Nigerians still buy petroleum products at pump prices, as if the global price of crude oil had remained at $100 (USD) per barrel.The statement reads: The current attempt by the government to deregulate the prices of some petroleum products has been completely compromised to satisfy few money bags to the detriment of the Nigerian people and the economy.The price of diesel, which has been deregulated since 2009, still sells at the pump price of N150 and N170 per litre, the same pump price, when the international benchmark per barrel of crude was over $100. Now that the international benchmark has dropped to $47.5 (USD) per barrel as at Monday, we ask: where is the deregulation and the relief which it ought to bring to local consumers of diesel'For the Nigerian consumers, unfortunately, the collapse of crude oil price since October 2014 has not translated into any change in diesel, kerosene and PMS prices across the country. We challenge the federal government to reconcile the information on the website of the Petroleum Products Pricing and Regulatory Agency, indicating the maximum open market price of diesel pay per litre in December 2014 as being at N111.6 and the fact that the price has come down to less than $50 (USD) as at Monday.We want to posit that the maximum indicative benchmark open to consumers of diesel should pay at a margin below N100 per litre. Therefore, Nigerians are being short-changed by about N50 to N70 on every litre of diesel sold by government.
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