‘Tinubu govt is confused’ – Adebayo blasts FG over petrol price

The presidential candidate of the Social Democratic Party, SDP, Adewole Adebayo, has blasted the Federal Government for announcing a 30-day discount on fuel sold by the NNPC.

Speaking during an interview on Channels Television’s Politics Today on Thursday, Adebayo said the administration of President Bola Tinubu is confused.

The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, on Thursday said the Federal Government is offering a discount on petrol dispensed by the Nigerian National Petroleum Company Limited (NNPCL) for the next 30 days.

Reacting, Adebayo said, “So, long and short, it looks to me like the government is genuinely now and sincerely confused.

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“There are four problems that they have created for themselves. Before you give discount, you are affecting what we call profit and loss account of the NNPC.

“So NNPC, according to them, buys at cost and sells at cost. Two problems there. One, who determines NNPC’s cost? If NNPC’s cost is already higher than the affordability of the people, so what happens tomorrow if the NNPC cost rises to 2000?

“If they continue in the way they are going, fuel price will hit N2000. And if by this time next year we are still mentioning President Tinubu in relation to government, fuel price will hit N5000.”

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