Shehu Sani Reveals Why Fuel Price May Continue To Increase

Shehu Sani Reveals Why Fuel Price May Continue To Increase

Senator Shehu Sani, a prominent member of the Peoples Democratic Party, has responded to the recent increase in the price of petroleum fuel, which has risen from N539 to N617 per litre in the Federal Capital Territory and other parts of Nigeria.

Elder Chinedu Okoronkwo, the National President of the Independent Petroleum Association of Nigeria (IPMAN), confirmed this adjustment.

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In his reaction to the price hike, Sani, a former federal lawmaker, linked the increase to the devaluation of the Naira, the national currency. He expressed concern that as the value of the Naira continues to decline, the cost of fuel may continue to surge.

Sani acknowledged that this situation is the unfortunate reality that Nigerians might have to endure. In a tweet from his official Twitter handle, he stated that only a miracle could alter the current circumstances.

He wrote, “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”.