The Peoples Democratic Party (PDP) has promised to return the pump price of petrol from N145 to N87 per litre if its presidential candidate, Atiku Abubakar, is elected next year.
The party said it had gathered from high-level engagements with top international players in the oil and gas industry that a price regime of between N87 and N90 was very feasible under the current subsidy system of the Muhammadu Buhari presidency.
In a statement by its national publicity secretary, Kola Ologbondiyan, PDP said Atiku had worked out a template that would immediately crash the price of petrol.
The main opposition party rejected the Federal Government’s increase in the pump prices of diesel and kerosene, arguing that the development had further impoverished the citizens, businesses and the nation at large.
“With the current price template of crude oil in the international market, the Buhari administration has no justification to keep the pump price of fuel at N145 per litre and watch Nigerians groan under the weight of high prices while a cabal in the presidency loots the funds meant to subsidise the product.”