A non-governmental organisation, the Save Nigeria Group, on Wednesday said Nigerians would withdraw their mandate from President Goodluck Jonathan if he failed to reverse his policy on fuel subsidy.
The group, in a communiqué after its meeting in Abuja on Wednesday, said at the old price of N65 per litre, there was no subsidy on petrol.
The communiqué was signed by its officers, including the Chairman, Mr. Femi Falana; National Coordinator, Mr. Benedict Ezeagu; and Acting Secretary, Stanley Dien.
The SNG recalled the role it played in the swearing- in of Jonathan as President in 2010 and later as substantive President.
It stated, “The President should know that where he refuses to reverse this ugly policy of his government, the same Nigerians who protested/struggled under the umbrella of SNG to make him the president of the country will not hesitate to reclaim their mandate using the same means with the attendant consequences.”
It stated that the President should reverse the anti-people policy, and “fix moribund refineries as well as courageously tackle the issue of corruption.”
The SNG described the fuel price hike as inhumane, adding that the government’s campaigns on the policy was fraudulent.
It added that the government was bent on forcing Nigerians “to accept an evil World Bank/Western Imperialist-policy that will further heighten the hardship and anguish of the people with consternation.”
The group said its research had revealed the truth about the actual price of getting petroleum product in the Nigerian market.
According to it, one barrel of crude oil is 42 gallons or 159 litres. The SNG stated the four refineries in the country had 445,000 installed capacity.
It added, “The actual current refineries capacity due to ageing equipment is 30 per cent (i.e. 133,500 barrels per day; 4) the 133,500 barrels is =21.2 million litres; 5).”
It further stated that the required domestic consumption was 12 millions litres, adding that the moribund refineries could meet the local consumption.
The group said, “The actual cost of petroleum product per litre in Nigeria is N40.02 and locally refined products cannot be sold at international price.
It explained that among the other oil producing nations and the members of Organisation of Petroleum Exporting Countries, petroleum products cost highest in Nigeria, even at N65/litre
“Petroleum products costs about N9 in Venezuela; N16 in Gaddafi’s Libya; N18 in Saudi Arabia; N31 in Kuwait; N32 in Qatar; N40 in Bahrain; N54 in UAE; and N58 in Iran per litre,” it added.
The SNG asked the Federal Government to tell Nigerians how it came about the N65/litre of petroleum product or the issue of the fuel subsidy.’
