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Monday, 11 April 2016

Local News - I never said petrol will sell for N40 per litre- Tam-West


 Former minister of Petroleum Re­sources, Prof Tam David-West has denied that he ever said President Buhari will crash the price of petrol to N40 per litre during campaigns. David-West said at no time did he ever make such com­ment stressing that he was misquoted by the media. He said he only canvassed that some 14 items currently listed in the petrol pricing template be re­moved as that would help crash pet­rol price to N40.
David-West said some of the 14 items included, Petroleum Equal­ization Fund (PEF) charges, trans­porters margin, lithering expenses among other charges, currently con­tained in the pricing template tend to increase the cost of petrol. ‘‘I signed the contract for the re­finery in Port Harcourt in 1985. And I can tell you that there is nothing wrong with our refineries. But the is­sue is just that some people bent on sabotaging the efforts of government are frustrating plans to ensure that the refineries produce at optimal ca­pacity. David-West equally berated proponents of the co-locating of re­fineries, arguing that such idea was a waste of resources.
‘‘How can you co-locate refiner­ies within the existing refineries that NNPC has tagged as scraps? For you to co-locate refineries that means the refineries still have value and can be efficient,’’ he told Daily Sun. Meanwhile, the lingering fuel scarcity that has lasted over a month seems to be over as the federal government has commenced the release of petrol to Independent Petroleum Marketers Association of Nigeria (IPMAN). According to a press release issued by the organization’s secretary, Lawson Ngoa, IPMAN said the release of petrol to the members was part of efforts to settle the 7,000 pending loading tickets of IPMAN.
Meanwhile Occupy Nigeria Group has announced that the will be a peaceful and peoples organized protest in the city of Port Harcourt next week Thursday April 14. This protest which the group is said is aimed at driving a strong citizenship position against the inability of the Federal government to address the burning perennial fuel scarcity, zero Megawatts and total lack of electricity amidst increased tariff, incessant/fraudulent bank charges on poor Nigerians among other serious economic matters. Registered & Protected