Former Minister of Petro­leum and Energy, Prof. Tam David-West, has
blasted the Federal Government for in­creasing the price of Premium Motor
Spirit (PMS) from N86.50kobo per litre to N145, saying it is
unjustifiable. It is nonsense.
In an interview in Ibadan, the Oyo State capital on Friday, he insisted
that petrol can be sold at N40 per litre in Nigeria.
David-West, who was widely quoted in the media that petrol could be sold
for N40 per litre under President Mu­hammadu Buhari prior to the 2015
general elections, raised the alarm that hidden charges made the pump
price of petrol to skyrocket, urging the gov­ernment to assume
responsibil­ity for the charges.
He identified Petroleum Equalisation Fund (PEF), de­murrage, charges by
Nigerian Ports Authority (NPA), jetty and depot charges, retailer’s margin
on petroleum, trans­porter’s margin on petroleum, dealer’s margin on
petroleum, smuggling across borders, stor­age and so on as some of the
additional charges put on the price of PMS.
“When I heard the Minister of State for Petroleum (Ibe Ka­chikwu), saying
they smuggled our petrol across borders and that was the reason for the
in­crease, it is nonsense. I used the word nonsense because during my
time, we closed the bor­ders. If I could do it, he could do it too; and it
is the same head of state (Buhari).
“We ensured there was no petrol station several kilome­tres to the
borders. Govern­ment would not approve fuel station that is close to the
bor­ders. Another illogicality of that argument is if you sell petrol in
Nigeria for N150 per litre, the people across the borders are ready to pay
N160; if you sell for N200, they are ready to pay N210. So, there will
still be smuggling. So, increasing petrol price in Nigeria does not stop
smuggling,” he said.
David-West, said the rea­sons which the government gave for “the fuel
price increase is confusing. A government of­ficial said it is subsidy
removal, which is not. Another one says smuggling, which is unten­able.
Foreign exchange (Forex) was also mentioned, which is partially tenable
because the country’s foreign exchange has gone down drastically. So, it
is so difficult now to source forex to import fuel.
“If I am into managing of oil and foreign exchange goes down, why should a
man on the street pay for it? No matter the reason, N145 per litre is not
justified. If they removed all the unnecessary additions on the price of
petroleum such as bridging or Petroleum Equali­sation Fund, dealer’s
margin, transporter’s margin, retailer’s margin, storage, depot margin,
and NPA charges, petrol price will come down to N40 per litre.”
David-West stated further that the National Chairman of All Progressives
Congress (APC), Chief John Odigie- Oyegun and Minister of State for
Petroleum, Dr. Ibe Kachik­wu, said the hike in fuel price was necessitated
by subsidy removal, but the Vice Presi­dent, Prof Yemi Osinbajo, said it
was because of foreign exchange.
“What they are doing is em­barrassing to him. Buhari has said it
repeatedly that there is no subsidy. I stand by him that there is no
subsidy as such. If you say you have come to remove subsidy, will you
re­move what does not exist?
“Kachikwu, I don’t know him and I have never met him before; he is
brilliant from his CV (Curriculum Vitae). I re­spect him for his CV. He
has got a very beautiful CV. But sometimes, he says things that are, to
me, outrageous.
“A business man runs a business to make profit. Gov­ernment should
encourage businessmen to be in business by allowing them not to run at a
loss. Government also has a responsibility to make sure that businessmen
do not ex­ploit the people.
lalasticlala,mynd44
http://pointblanknews.com/pbn/exclusive/tam-david-west-blast-buhari-subsidy-removal-calls-nonsense/

emamos:
It is well

oloriooko:
Na serious quadratic thunder go strike this yeye prof
Oloshi oloriburuku omo ale oniso ku so

iokpebholo:
hey man don't be a robot. He only spoke his mind, u don't have to abuse him. Shalom

iokpebholo:
hey man don't be a robot. He only spoke his mind, u don't have to abuse him. Shalom

oloriooko:

Na so?
No be this same man said if voted in, PMB would make fuel 40/litre.
I say it again, na quadratic thunder go roast his balls for saying this