Former Minister of Petroleum, Prof. Tamunoemi David-
West, said that Nigerians should expect sharp drop in petrol
price from the current N87 to about N40 per litre, saying,
“President Mohammed Buhari will reduce the fuel pump
price to N40 per litre.”
In his words: “I want to assure you that by the time he
takes over, petrol will be dispensed at N40 per litre. This is
possible and he has the credibility to make it work.
"Buhari will build new refineries to make petroleum
products available for the masses. No responsible
government will allow the masses to suffer."
In a telephone interview with Vanguard, the former minister
argued that Nigeria produces millions of barrels of crude oil
daily, and if properly harnessed will boost the performance
of the industry.
He noted that the president-elect is familiar with the
petroleum industry, adding that he is a straight forward
person that has respect for democratic principles.
“As military head of state, he dealt with the Federal
Executive Council with the tenets of democracy.
“He will strengthen the refineries within a year. It is
possible as we won’t spend any amount in setting up a
green field refinery. We already have a blueprint as we shall
use what we have to get what we want,” he added. He
further stated that on many occasions, the president –
elect had disclosed that the subsidy initiative is a fraud
which has distorted the progress expected in the sector.
He is also said to have frowned at the spate of corruption,
which has characterised the subsidy regime to include the
Trillions of Naira spent on both Petrol and Kerosene
subsidy within the past few years, thus inhibiting efforts to
properly carry-out the Turn Around Maintenance TAM, for
the refineries. He added that on countless occasions, he
had argued that the country is forced to pay for scam
carried out by oil cartel. CLICK HERE TO READ FULL AND TOUCHING NIGERIAN CELEBRITIES BIOGRAPHY AND SCANDALS
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