Petrol should sell for N605 per litre in Nigeria – Olawepo-Hashim

A chieftain of Accord Party, Gbenga Olawepo-Hashim, has said that petrol should sell for N605 per litre in Nigeria.

Olawepo-Hashim made this assertion in an interview on Channels Television’s Politics Today on Friday.

He also described the policy that led to the removal of fuel subsidy as ‘insanity’.

The Kwara-born politician slammed the President Bola Tinubu administration for justifying the high price of petrol.

According to him, the fuel subsidy debate was largely a product of the government’s accounting and crude-pricing system.

“It is insanity and idiocy for anybody, especially for the president of an oil-producing country, to say that both domestic and international oil prices you leave to market forces. What President Tinubu did was insanity.

“Petrol could sell for about N605 per litre if the cost of locally produced crude oil and other associated expenses were properly calculated,” Olawepo-Hashim said.