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  • Oil & Gas - News
  • Updated: August 14, 2023

Petrol Price Hike: NNPCL Boss Kyari Should Be Investigated — PDP BoT Member

Petrol Price Hike: NNPCL Boss Kyari Should Be Investigated �

Adetokunbo Pearse, a member of the Peoples Democratic Party (PDP) National Presidential Council, has called for a probe of the Managing Director of the  Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, amid the hike in Premium Motor Spirit (PMS).

During an appearance on Channels TV's Sunrise Daily on Monday, Pearse stated that citizens deserve to know the actual landing cost of petrol.

He called for an investigation by the federal government into Kyari over the fluctuation of the landing cost while pointing out that the repair of the local refineries ought to reduce the price of the product in contrast to the NNPCL boss’ comment.

Adetokunbo Pearse

“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.

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

“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 added.

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