Prof. Wumi Iledare, Professor of Petroleum Economics, says comparing the prices of Premium Motor Spirit (PMS), also known as petrol, with other countries will help to educate Nigerians on deregulation of the sector.
Iledare made this known in an interview with the News Agency of Nigeria( NAN) while reacting to President Muhammadu Buhari’s Independence day speech in Abuja on Thursday.
Buhari in his speech explained why petroleum prices in the country needed to be adjusted for economic development
Buhari said: “Our government is grappling with the dual challenge of saving lives and livelihoods in face of drastically reduced resources.
” In this regard, sustaining the level of petroleum prices is no longer possible.
” In the circumstances, a responsible government must face realities and take tough decisions.
” Petroleum prices in Nigeria are to be adjusted. We sell now at N161 per litre. A comparison with our neighbours will illustrate the…
Source: Vanguard Newspaper