Fuel can sell for N605/litre, subsidy is ‘Accounting Magic’ — Olawepo-Hashim

Accord Party presidential aspirant, Gbenga Olawepo-Hashim, has challenged the Federal Government’s justification for the high price of petrol, saying the fuel subsidy debate is essentially “accounting magic” and that petrol could sell for about N605 per litre.

Olawepo-Hashim made the assertion on Channels Television’s Politics Today, arguing that the cost of petrol in Nigeria has been inflated by the way the government prices crude oil supplied to the domestic market.

He said Nigerians had been made to believe that cheaper petrol was no longer possible, insisting that a review of the domestic crude pricing structure could significantly reduce the pump price.

“The truth of it is that the price is…