A former Minister of Petroleum Resources, Prof Tam David-West, has denied newspaper reports, that Buhari will crash the price of petrol to N40 per litre. The Professor of Virology who spoke to Daily Sun in a telephone interview at the weekend, said at no time did he ever made such comment, regretting that he must have been misquoted. Rather, he said, he only canvassed that some 14 items currently listed in the petrol pricing template be removed as that would help crash petrol price to N40. David-West said some of the 14 items included, Petroleum Equalization Fund (PEF) charges, transporters margin, lithering expenses among other charges, currently contained in the pricing template tend to increase the cost of petrol.
The former Minister said it was shameful that Nigeria is still involved in importation of petroleum products despite having four refineries capable of meeting the energy needs of the country . He equally took a swipe at those pushing for sustenance of subsidy regime, saying the scheme was a fraud that should not be encouraged by all Nigerians.