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REVEALED: Actual cost of petrol is N39.50 per litre – Coalition

By on December 30, 2011

AGAINST claims by the Federal Government that it was subsidizing fuel with over N1.3 trillion, it has been revealed  that Nigerians were already over-paying for fuel, as the actual cost of a litre of petrol ought to be N39.50k.

This was disclosed in Benin, Edo State, yesterday, in a communiqué at the end of a Town Hall Meeting organised by a Coalition to Save Nigeria, CSN, made up of Nigeria Labour Congress, NLC; Nigerian Bar Association, NBA; Nigerian Medical Association, NMA, civil society organisations, professional bodies, students, market women and artisans.

According to the communiqué, “Nigerians are prepared to resist the decimation of their lives by mobilising professional organisations, labour and the great people to resist fuel price increase that has been tagged subsidy removal.”

The communiqué further said if the government could not check corruption in various ministries, departments and agencies, it should admit it and quit for those who have the capacity to do so.

While saying the government could no longer be trusted, participants at the Town Hall meeting called for downward review of pump price of fuel to N39.50k per litre, just as it called on government to account for the excess money for fuel price increase since June 1999.

“Ngozi Okonjo-Iweala, having demonstrated lack of adequate knowledge of the working of the Nigerian economy, and being the eye of the World Bank ‘policy trinity’ of the elimination of the public sphere, total liberation for corporations and skeletal social spending, therefore should be removed as minister,” the communiqué said.

Former Academic Staff Union of Universities, ASUU, President, Prof. Festus Iyayi, in his speech on the occasion advanced reasons why Nigerians should not accept fuel price increase, insisting that the petroleum products market has since been fully deregulated.


  1. Faudoo

    December 31, 2011 at 7:33 am

    This people live in the moon!! May question is: ” what can we do” that is constitutional?

    • Lawal.A

      January 4, 2012 at 5:44 pm

      Simple! Reverse the decision, continue the negotiations & dialogue with stakeholders & other interest groups. While that is on, put in place palliative measures to cushion the hardship being anticipated. Finally, build refineries & other infrastructure that are of utmost relevance & importance to the people. Not building new Government Houses, buying new cars for Assemblymen & so on.

  2. J. Johnson

    January 3, 2012 at 4:55 am

    These people needs to educate the people rather than acting like a bunch of fools. They need to present to the masses how they arrive at N35/litre, rather than just trow a number out there to the people and tell them to take to the street. They must be remnants of the old military people.

    The statement that “if the government could not check corruption in various ministries, departments and agencies, it should admit it and quit for those who have the capacity to do so”.

    How is the “government” suppose to “quit”? By dragging it out of its offices and beat them, or how?

    Their statement is so ridiculous, but it shows the disconnect between the government and the governs.

  3. Dayndayo

    January 3, 2012 at 12:40 pm

    J.Johnson, please read the article
    Oil Subsidy: Does President Jonathan Deserve To Continue To Rule?
    before you start concluding….

  4. Lawal. A

    January 4, 2012 at 5:31 pm

    It is only an irresponsible & irresponsive government that would give such a dastardly present as New Year gift to a people that toiled day & night to    bring them to power. We all blame Boko Haram for bombing innocent citizens, how does one explain GEJs bomb blast on Nigerians. We deserve better treatment in the hands of these impostors & interlopers. GOD SAVE NIGERIA.