Fashola tells Jonathan to reduce fuel price,to N65 Per litre,

Governor Babatunde Fashola of Lagos State yesterday
wondered why the federal government was reluctant
towards reducing the pump price of oil from the
current N97 per litre it is sold in the country, even when
the price has declined in the global market.
The Governor spoke while addressing hundreds of
youths at the Lagos State After School Graduation
Development Centre, AGDC, IGNITE Employability
Project 5, Ikeja.
While disclosing that as at Friday, the Organisation of
Petroleum exporting Countries, (OPEC) had on its
website, pegged the oil price at $66.27 per barrel, he
lamented that Nigerians were not receiving fair
treatment from the government like citizens in other oil
producing nations.
Hear the Governor, "Now, we should be enjoying cheap
fuel if the price of oil has dropped globally. And even as
we import the product, a major component has
reduced in price. While this has reduced, the pump
price of fuel in the country still remains the same.
Something is wrong.
"If the price increases in the country when the price of
oil goes up globally, then it should also reduce when
the price of oil drops.

"I understand that I am not an economist; they (federal
government) are the economist. But I have some logic
and common sense to ask critical questions. For
instance, if one buys flour at N10 per kilogram, and the
bread is sold at N1 per loaf, if the price of flour drops,
the price of the bread should also change", he pointed
out.
Fashola went on to request the President Goodluck
Jonathan-led administration to follow the example of
other countries that have reduced the pump prices of
oil products for their citizens as a result of declining
global price of crude oil.
While observing that the oil sector of the country had
not been developed to take care of the challenges faced
by the nation, especially unemployment, Fashola said:
"The economy is not doing well. Some of you are
compelled to try to survive through whatever means."
The Governor further showed how the oil sector can be
used to tackle unemployment challenge, saying, "If we
are trying to build refinery with Dangote in LFZ, Epe;
and the construction alone would require 8, 000
workers. It means that they must get to work and back.
So there is need for transportation service.
"There is need for food. And other services during work.
And post construction," he added.