A chieftain of the Peoples Democratic Party and former Kaduna lawmaker, Senator Shehu Sani, has described the current hike in the price of fuel as reality that Nigerians have to live with.
Sani made this submission in a statement via his verified Twitter handle on Tuesday.
His comment comes following the new petroleum Pump Price of fuel from N539 to N617 in the Federal Capital Territory and other parts of the country.
Recall that the NNPCL adjusted the price of Petroleum Motor Spirit, PMS N539 to N617 per litre on Tuesday.
The National President of Independent Petroleum Association of Nigeria (IPMAN), Elder Chinedu Okoronkwo confirmed the development.
Reacting to the issue of hike in fuel price, Sani attributed the development to the value of Naira.
According to him, as the nation’s currency continues to lose its value, price of fuel may continue to skyrocket.
Sani described it as the reality Nigerians may have to live with, adding that only miracle could change the current reality.
He stated, “Petroleum is imported with foreign currency. If the value of the foreign currency goes up, the price of petrol will go up,especially now with the removal of subsidy.
“This is the energy and economic reality we have to live with, until manna comes or miracle happens.”
