Nigerians have slammed President Goodluck Jonathan over the paltry reduction in the price of petroleum product from N97 to N87, saying the reduction is not commensurate with the fall in crude oil price globally.
Many argued that the president decided to cut the price of petroleum in order to win the heart of Nigerians to vote for him at next month?s election.
Commenting on social media
'Oil price shrunk in the international market by more than 50%. Why don't you slash it by same percentage in the local market? There is an EYE watching you o'
Another Anonymous reader also stated
'Jonathan and his cabinet are rouge for waiting for opposition party and NLC to speak before they know dt they shld reduce the pump price. Ur time is up bcos a lot of things is yet to be uncovered'
Jay 2 from Abuja also had this to say
'THIS IS POLITICAL GIMMICK AND GIFT. THIS WON'T SAVE PDP AND PRES. JONATHAN . TOO LATE TO PLAY THE GAME. WE ARE WISER NOW. GO, PDP GO. EVEN IF YOU GIVE IT FREE, WE WILL SEE IT AS A GREEK GIFT TO LURE US INTO MORE YEARS OF SUFFERING.'
Another Anonymous stated.
Please note that every day the pump price reduces in USA and UK. They don't wait to finish stock before adjusting to the effect of the global oil price. A gallon of petrol that sold in December @ $2.56 in US now sells for $1.65 per gallon ( mind u, a gallon is 4 litre in Nigeria). Jonathan, Diaziani are day light thieves that must not be pardon when caught by the owner they are stealibg from. Aba this is too much, this people had made crude oil blessing from God yo be a curse for Nigeria. The pump price should be nothing more than 35 Naira as at today.
Another reader also anaylised the reduction from another view
All of u commenting negatively, remember that your salaries too will reduce o. Reducing every thing means there will be no money to pay salaries and execute projects
Speaking with journalists, Lagos lawyer, Festus Keyamo said winning election was the reason Jonathan decided to reduce the price of petroleum product, describing it as a last minute deception and a panic mode to warm himself into the hearts of Nigerians.
?In the United States, the prices of petroleum were reduced two months ago when the prices started falling. Why are we just dong it here now? I am not impressed. The fuel price fall is about 60 percent and the reduction is not commensurate with the fall in prices,? he said.
Founder, Coalition Against Corrupt Leaders, CACOL, Comrade Debo Adeniran rejected the reduction, saying it is not commensurate with the fall in crude oil price, lamenting that the reduction was not also done across board as the prices of diesel and kerosene were not reduced.
Adeniran also said the reduction was simply political and a way to win the hearts of the people to vote for his candidacy.
Mr. Joe Igbokwe, Publicity Secretary, All Progressives Congress, APC, Lagos State said let nobody think that Jonathan did this because he loved Nigerians, and wants to alleviate their sufferings .
?Far from it, he did the natural thing that needed to be done. Since crude oil price has moved from more than 100 dollars per barrel to less than 50 dollars per barrel, this government has no alternative than to cut the prices of petroleum products in order to obey the economic laws of forces of demand and supply.
?All over the world, including the United States, pump prices of the products have been adjusted and Nigeria should not be an exception. So, let nobody, including the president think that political capital can be made out of this in this election period. It will never happen.
?After all, the pump prices are supposed to be reduced by half given that the crude oil price reduced by more than half. The truth is that Nigerians are still being cheated even with the current reduction. Let us fight for further reduction instead of celebrating this unfair treatment,? Igbokwe said.
Also, the APC in Oyo State has rejected the slight adjustment in the pump price of Premium Motor Spirit (PMS), describing the development as hypocritical
Director of Publicity, Olawale Sadare, challenged the president and his economic team to explain how the new pump price came into being and without making any guiding statement on it.
?It is to the common knowledge of everyone that the prices of crude oil in the global market have fallen by 50 per cent but the Nigerian government chose to announce a phantom 10 per cent reduction in the official pump price of petrol in what we suspect to be another subtle attempt to evolve a soft landing for the president in next month?s general elections.
?In as much as Nigerians are amazed that the PDP administration of Dr. Jonathan can bow to the pressure, which first came from the APC in Oyo State, to reduce the fuel pump price, it is curious to note that the announcement in the dead of the night by the minister did not meet the expectations of the people and as such cannot be celebrated.
?What happens to the prices of other petroleum products such as kerosene which sells for between N120 and N150 when its landing cost is N45.90k? Why does Nigeria still depend largely on smaller countries with functional refineries to run its economy when we are the world?s sixth-largest exporter of crude oil? Why does the country lose at least 400,000 barrel of crude oil to pirates on daily basis?? the party asked.