Former Vice President of Nigeria, Atiku Abubakar, has posed a question to the Federal government on the reported deregulation of the petroleum sector. The Federal government hinged the decision for the recent increase in fuel pump prices to the deregulation of the petroleum sector and suspension of subsidies on petroleum products.
In a tweet posted this morning, Atiku asked why the price of petrol isn’t dropping since the government has embarked on deregulation. According to him, fuel prices in US and Europe are far lower than they were in 2019.
”I am a businessman. I look at things from an economic perspective. Questions beg answers. The price of crude is down from where it was in 2019. In the US and Europe, fuel prices are far lower than they were in 2019. If we truly deregulated, shouldn’t fuel price have dropped?” he tweeted