Reducing petrol by N2 ridiculous – PENGASSAN | Nigeria News Today. Your online Nigerian Newspaper f


The Petroleum and Natural Gas Senior Staff Association of Nigeria has described the reduction of the price of premium motor spirit by N2 as ridiculous.

PENGASSAN Chairman, Port Harcourt Zone, Mr. Azubuike M. Azubuike, said it was shocking that some people were jubilating over a reduction in the price of petrol by a meagre N2.

Azubuike, who made this remark through a telephone interview with newsmen on Wednesday, argued that rather than make such insignificant reduction, government should pass the Petroleum Industry Bill to law.

He reasoned that with the passage of the PIB into law, there would be a lot of investment in the oil and gas industry.

Azubuike said, “If there is any word like ridiculous, yes, the reduction of the price of petrol by N2 is ridiculous. How much is crude oil in the international market? Why is it that people are jubilating over the removal of N2 from the pump price of petrol?

“There are a lot of things that government can do that will make people to be happy. For an instance, there is no investment in oil and gas due to the non-passage of PIB into law. If government should pass the PIB into law, there would a lot of investments in the oil and gas industry and people can get jobs directly and indirectly.

“That is what we want government to do. Nothing can be more ridiculous than removing N2 from the price of petrol and people are jubilating. It is not worth it and how many filling stations are selling at that new price? Reduction by N2 is insignificant and has no economic importance as far as I am concerned.”

The PENGASSAN zonal chairman also expressed the need for the nation’s refineries to be put in order while the plan to construct modular refineries should be implemented.

“Putting the refineries in order and make the proposed modular refineries work so that we can be able to produce more PMS and other petroleum products will help us to flood the West African market with more petroleum products and improve our revenue. Again, it will help the country to reduce the rate of unemployment,” he added.

Describing Nigerians as one of the greatest and most understanding set of people to govern, Azubuike lamented that their leaders did not have their (Nigerians) development at heart.

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  1. Where was this guy during the years Nigeria was being bled to death through looting and high pump price of petrol?.They all sold their souls and integrity during PDP era.Shame on this bunch of irresponsible and unethical people claiming to live the ordinary masses

    1. You are a foolish fool. At what time under PDP was petrol sold @145/litre? U just want to write rubbish without even thinking like a normal human being. Fool.

  2. Because he only collects money as PENGASSAN without actually working..he does not know the economic value of even 50k..Most mobile networks/recharge card vendors sell for N1 margin and they are in great wealth..these are d kind of nonentities we have around.. Shame...anyways, he is an Igbo man..we can expect such foolishness..a youruba man or even an Hausa man cannot talk foolishly like this ,only one tribe can..

  3. Regardless of his tribe, I believe d reduction is praiseworthy. Dis is becos d reduction came not as a result of govt pronouncements but becos of policies instituted by d govt. Dis is what d man fails to realised. U don't condemn everything d govt does but praise where necessary.

  4. But note that the same people in PDP are the ones in your so call APC. APC has brought Nigeria from the biggest economy in Africa into recession. Petrol from #80,000 to #145,000. A bag of rice from #8,000 to #25,000. Companies are sacking workers everyday. For the past two years APC has been shifting blame, is unfortunate they are not prepared to rule because they have no FOCUS


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