Vunderkind
Social Member
Lagos state governor Babatunde Raji Fashola has wondered why Nigeria's pump price for fuel remains at N97 despite the global drop in oil prices.
The governor said: “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."
Do you support Gov. Fashola's theory? Should the price of fuel be dropped as well?
The governor said: “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."
Do you support Gov. Fashola's theory? Should the price of fuel be dropped as well?
