Oil & Gas

PDP Asks Tinubu To Probe Kyari Over Actual Petrol Landing Cost

Ola ‘Kiya, Reporting

As Nigerians warm up for another impending hike in pump price, member of the Peoples Democratic Party (PDP), National Presidential Campaign Council, Adetokunbo Pearse, has called on President Bola Ahmed Tinubu to probe the Managing Director of the Nigerian National Petroleum Company Ltd (NNPCL), Mele Kyari.

He said the probe will help Nigerians to know the actual landing cost of Premium Motor Spirit (PMS) otherwise known as petrol. 

Recall that petroleum marketers, have since last week, begun to moot the possible jacking up of pump price to N720 and above if the value of the Naira continues to tumble.

Dr Pearse, speaking on Channels Television’s Sunrise Daily on Monday, said a thorough scrutiny should be carried out on Kyari over the fluctuation of landing cost.

According to him, going back to the NNPCL would affect the landing cost of imported fuel.

“The way you solve a problem is to go to the source. Let the president go and interrogate NNPCL and let us find out – announce to the country what the landing cost is so that we know exactly what we can make, and how much we can sell oil that will not cripple the economy. That’s what we need to do,” he

“When you go to the NNPCL, you find out that the landing cost is so low than the price that is given. The landing cost at one point was 50 naira per litre, now it’s about 150 per litre,” he disclosed.

He said the emergence of the Dangote Petroleum Refinery and the repair of the local refineries ought to reduce the landing cost of the product in contrast to the NNPCL boss’ claim.

“One of the reasons I said we need to go to NNPCL is this: Kyari said on this Channels that even when Dangote oil comes fully on board, the price of pump fuel will not reduce – even with the production of oil in Port Harcourt and elsewhere. That man needs to be investigated.

“Of course, if you refine your oil here, the man is already telling us that even when it is refined here, it is still not going to go down and you and I know that if we have our own refineries and we are refining the product here, the price should be more competitive,” he argued.

Recall that the NNPCL in a statement in September 2022, had said that PMS would cost consumers N462 per litre without the Federal Government’s subsidy.

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