Petrol Price Truth or Accounting Magic | Nigeria News

A Nigerian chieftain of the Accord Party, Gbenga Olawepo-Hashim, is challenging the government’s fuel pricing model, arguing petrol shouldn’t exceed 605 naira per litre—and could even be as low as 200 naira. He calls current pricing “accounting magic,” claiming Nigeria misuses international crude benchmarks without factoring in local production costs. Citing Saudi Arabia and Kuwait, he insists domestic pricing should reflect actual expenses—not inflated global rates. Hashim rejects the term “subsidy” as misleading and demands a forensic audit of Nigeria’s entire petroleum cost chain—from refining to distribution—to expose hidden margins and restore transparency. His goal? Let Nigerians see the real cost of fuel so they can judge pricing fairly. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/e6202c9083f875dd