In a recent development, Adetokunbo Pearse, a member of the Peoples Democratic Party (PDP) National Presidential Campaign Council, has called upon the Nigerian National Petroleum Company Limited (NNPCL) to disclose the true landing cost of Premium Motor Spirit (PMS).
This appeal was made during a discussion on Channels TV.
Pearse emphasized the need for transparency and accountability in addressing the fluctuation of the landing cost.
Pearse’s Perspective on the Issue
During the Channels TV interview, Pearse stressed the importance of addressing the issue at its root.
He proposed that Preside
nt Mele Kyari, the Managing Director of NNPC, should engage directly with NNPCL and make public the accurate landing cost figures. This, Pearse believed, would provide clarity on the economic implications and enable informed decisions about oil pricing.
Highlighting the Fluctuation in Landing Cost
Pearse expressed concern about the volatility in the landing cost of PMS.
He cited a significant disparity, noting that the landing cost had risen from 50 naira per litre to approximately 150 naira per litre.
This shift, Pearse suggested, called for a thorough investigation into the factors causing such fluctuations and their implications for the economy.
Anticipated Impact on Imported Fuel
One of Pearse’s apprehensions was related to the potential consequences of returning to the NNPC for fuel sourcing.
He feared that reverting to the NNPC for fuel supply might further affect the landing cost of imported fuel.
This concern underlined the urgency of obtaining accurate and transparent information about the cost structure.
Challenges to Kyari’s Statement
Pearse challenged Mele Kyari’s statements on the potential impact of Dangote Petroleum Refinery and the repair of local refineries.
Kyari had stated that the arrival of Dangote oil and the revival of local refineries would not lead to a reduction in pump fuel prices.
Pearse criticized this stance and emphasized the anticipated cost benefits of having functional refineries within the country.
The Need for Investigation
In Pearse’s view, Kyari’s assertion required closer scrutiny.
He asserted that if Nigeria were to refine its oil domestically, the resulting product should naturally be more competitively priced.
Pearse advocated for a comprehensive investigation into Kyari’s statements, the factors affecting landing costs, and the potential benefits of having operational refineries in the country.
In conclusion, Adetokunbo Pearse’s call for transparency in revealing the actual landing cost of PMS highlights the need for accurate information to make informed decisions about oil pricing and its impact on the economy.
His emphasis on investigating the factors influencing fluctuating costs and the role of operational refineries adds depth to the ongoing discussions surrounding fuel pricing and domestic oil production.
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