The Lagos State chapter of the Peoples Democratic Party (PDP) has challenged the Federal Government to provide details of its proposed 30-day petrol price intervention, demanding transparency on the discount, the cost of crude supplied to domestic refineries and measures to sustain relief after the initiative expires.
The party, in a statement signed by its Publicity Secretary, Prince Christopher Odianarewo, criticised the fuel price measures announced by the President Bola Tinubu-led All Progressives Congress (APC) government, describing them as inadequate without clear explanations of how they would benefit consumers.
Under the announced measures, the Nigerian National Petroleum Company Limited (NNPC) is expected to sell petrol at cost for 30 days, while the government has also proposed forward sales of crude oil to domestic refineries and a ceiling of N1,350 per litre on ex-gantry or landing costs.
The Lagos PDP questioned the financial implications of the intervention, asking how much consumers would save per litre, who would bear the cost of the discount and what would happen when the 30-day period ends.
The party also called for full disclosure of the price at which Nigerian crude oil is supplied to domestic refineries, arguing that consumers should be able to understand how domestic crude pricing affects the cost of petrol.
It expressed concern that Nigeria produces crude oil priced in dollars while most citizens earn their incomes in naira, leaving consumers exposed to foreign exchange fluctuations and international pricing benchmarks.
The party said the adoption of dollar-based petrol pricing by Dangote Refinery had further intensified public concerns over the relationship between domestic crude supplies and the prices paid by Nigerian consumers.
“If domestic crude is available, government must explain why Nigerian consumers are still exposed to international dollar pricing and exchange rate volatility,” the statement said.
To address what it described as a lack of transparency, the Lagos PDP demanded the immediate publication of four key details: the exact value of the discount per litre during the 30-day intervention; the actual price of Nigerian crude supplied to domestic refineries; the calculations underpinning the proposed N1,350-per-litre ceiling; and the government’s plan for consumers after the intervention expires.
The party argued that Nigerians required more than temporary price announcements, insisting that sustainable relief should be supported by transparent pricing arrangements and accountability.
It urged the Federal Government to publish the calculations behind the measures and explain who would finance the intervention, who stood to benefit, and the actual savings consumers could expect.