The presidential candidate of the Zenith Labour Party (ZLP), Dan Nwanyanwu, has promised to reduce the pump price of fuel to N100 per litre, if elected in next month’s election.
“Somebody that is involved in oil bunkering will not allow the refineries to work. He will want fuel to be sold at 1,000 [naira per litre],” Nwanyanwu said during a live appearance on Channels Television’s Politics Today on Wednesday.
“Read my lips and take it to the bank, within six months, I will sell fuel for N100 in this country. I have calculated it. All these refineries will be put to use within three, four months.
“At the same time – simultaneously – we are going to install modern refineries in each geopolitical zone. This thing will disappear – this idea of subsidy and all that is created. What are we subsidising?”
According to him, Nigeria is not ashamed that its crude oil is exported and only three refined produces – petrol, kerosene and diesel – are imported.
“What happened to the others, including your gear oil and all those? They take it away. You don’t talk about it. I won’t let that happen under my nose. These my colleagues, most of them are involved in these deals. They cannot do it.
“That is why when I told you I have no encumbrances, I have nothing attached to me in relation to the perennial problems we are passing [through] today. I will get it done. Dan Nwanyanwu will get it done as commander-in-chief,” he said.
Asked if he will be petroleum minister, similar to President Muhammadu Buhari, the ZLP standard bearer he needn’t assume the role in order to get the job done.
“I don’t have to be. If he doesn’t work, I fire him. I will give you my template: ‘I want fuel to be sold in six months. These are my ideas, get it done – for N100. Tell me what Nigerians are benefiting in this country.
“Nigerians should take me by my word. Within six months, it will start dropping, from day one until I get there [N100],” he said.
With fuel scarcity lingering nationwide, Deputy President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Zarma Mustapha, said the products went for as much as N250 in certain parts of the country, as of last Friday.
“Yesterday, I bought a product in Lagos at a depot at N247 per litre to be transported down to the far North at the cost of N50-N60 per litre. Even we as independent marketers don’t really understand what is happening.
“As of yesterday, it is going for about N240 in Lagos, N235 in Warri, and N240 in Port Harcourt. In Calabar, it’s as high as N250 per litre,” he said.