Fuel price discount: Tinubu’s govt confused, created four problems – SDP’s Adebayo

The Social Democratic Party, SDP, presidential candidate, Adewole Adebayo, on Friday, accused the Nigerian government of exhibiting signs of confusion with the fuel pricing discount incentive.

Adebayo said the Nigerian government created four problems with the announcement of fuel pricing discount.

His remark comes as the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, announced a 30-day fuel price discount at all Nigerian National Petroleum Company Limited, NNPCL, filling stations across the country.

The SDP presidential candidate, while featuring on Channels Television’s Inside Sources, said: “So, long and short, it looks to me like the government is genuinely and sincerely confused because there are four problems that they have created for themselves.

“Before you give a discount, you are affecting what we call P and L; Profit and Loss account of the NNPCL so NNPCL according to them price at cost and sell at cost.

“Two problems there, who determines NNPCL’s cost if NNPCL’s cost is already higher than the affordability of the people? So if the NNPCL’s cost rises to N2000 because what they are doing is trying to make my prediction not to come to pass, that if they continue the way they are going, the price of petrol will hit N2000 and if by this time next year we are still mentioning Tinubu in respect to the government that is there, it’s going towards N5000.

“Instead of them calling a press conference, why don’t they call us to a meeting to teach them how to do it in the few months they have left or I don’t know what they want people to do because there are two problems there.

“What happens after 30 days? You are going to say that the marketers are going to absolve the cost? Are you financing the marketers? If you are financing the marketers, from what account?”