Atiku discusses why fuel prices should have gone down

Atiku discusses why fuel prices should have gone down

The Former presidential candidate for PDP, Atiku Abubakar, expressed his dissatisfaction at the Nigerian government’s sudden rise in the pump price of petrol.

Atiku said the hike from an economic perspective was bad for Nigeria.

Recall that the Nigerian Government had announced a new ex-depot price of N151.56 for petrol through the Petroleum Products Marketing Company (PPMC).

In a statement signed by D.O Abalaka of the PPMC, PPMC, which is a subsidiary of Nigerian National Petroleum Corporation, NNPC, announced the new amount.

Reacting to the increment, President Muhammadu Buhari had blamed the COVID-19 pandemic for the hike.

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The president had explained that the outbreak led to a downturn in Nigeria’s finances, a situation that made it difficult to fund the country’s budget.

In a new tweet, the former Vice President wrote:

“I am a businessman. I look at things from an economic perspective. Questions beg for answers. The price of crude is down from where it was in 2019. In the US and Europe, fuel prices are far lower than they were in 2019. If we truly deregulated, shouldn’t fuel price have dropped?”

See tweet:

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