I Will Reduce Petrol Price To N300 If Elected President- Donald Duke
PRP presidential candidate, Mr Donald Duke has promised to reduce the pump price of petrol to N300 if elected president next year.
The presidential hopeful, a former governor of Cross River State, noted that the proposed reduction would be achieved by changing the way petroleum products meant for domestic consumption are priced, arguing that Nigerians should not be made to bear international market prices for locally produced crude.
Team@orientactualmags.com learned that the PRP presidential candidate, who said this while appearing on Channels Television’s Morning Brief on Wednesday, also criticized the current subsidy framework, describing it as unsustainable while noting that government ought to base the pump price of petrol on the actual cost of production.
‘The subsidy regime thing—this whole thing is a scam. I’m going to price petroleum products for local consumption at production costs, not at international market costs.
I’m giving you a production cost of $45, right? The international price—that’s $45, including processing, refining, otherwise, it’s about $30, and you’re selling it back to your own people at 100 and something dollars’ he submitted while noting that the removal of petrol subsidy has made workers and low-income households face severe economic hardship.
‘You don’t want them to breathe, and your people are notably the poorest in the world. They can’t afford it. The basic minimum wage is 70,000 naira. Your salary will go in just filling a tank of fuel.
I will try and bring it to about 300 naira. I’ve told you that it sounds so outlandish, but I’ve given you the arithmetic. Allocate 600,000 barrels if that’s what you consume daily. Allocate that to yourself. The other one million you can sell it’ he added.
Mr Donald Duke noted that the proposed arrangement will allow Nigerians to benefit directly from the country’s crude oil resources-Team@orientactualmags.com Do you have any information you wish to share with us? Do you want us to cover your event or programme? Kindly send SMS to 08035023079, 08059100286, 09094171980 or get in touch via orientactualmag@gmail.com. Thank you
