Former Vice President and presidential candidate of the African Democratic Congress (ADC), Atiku Abubakar, has faulted Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, over his comparison of fuel prices and subsidies in Nigeria and the United States. Atiku, in a statement by his media aide, Paul Ibe, said the minister's comparison was a textbook example of how statistics could obscure economic reality when stripped of income and purchasing power. He argued that telling a Nigerian earning N70,000 a month that petrol is cheaper because an American pays a higher dollar price per litre ignores the question of how much petrol each worker can afford from their earnings. The controversy over the appropriate price of Premium Motor Spirit (PMS) and the removal of fuel subsidy continues.
Related Articles
Don't miss out on breaking stories and in-depth articles.