Previous Minister of Petroleum and Energy, Prof. Tamunoemi David-West, has disclosed that Nigerians should expect a drastic drop in petrol price from the current N87 to about N40 per litre, saying, “the president-elect, Gen. Mohammed Buhari, will reduce the fuel pump price to N40 per litre.”
Speaking during a telephone chat with Vanguard, the former minister claimed that Nigeria produces millions of barrels of crude oil daily, and if properly harnessed will boost the performance of the industry.
He said: “I want to assure you that by the time he takes over, petrol will be dispensed at N40 per litre. This is possible and he has the credibility to make it work.”
Prof. Tamunoemi further revealed that the major assignment of the president-elect when he is eventually inaugurated is to restore confidence to the industry.
He noted that the president-elect is familiar with the petroleum industry, adding that he is a straight forward person that has respect for democratic principles.
“As military head of state, he dealt with the Federal Executive Council with the tenets of democracy. Buhari will build new refineries to make petroleum products available for the masses. No responsible government will allow the masses to suffer.
“He will strengthen the refineries within a year. It is possible as we won’t spend any amount in setting up a green field refinery. We already have a blueprint as we shall use what we have to get what we want,” he added.