If I Were In Tinubu’s Shoes, I Would Resign, Go Back To School And Learn Economics — Adebayo

The SDP 2027 presidential candidate, Adewole Adebayo, has argued that if he were in the shoes of President Bola Tinubu, he would resign and go back to school and learn economics properly so that he does not cause harm to the government and to the people.

Speaking in an interview with Channels Television, Adebayo made this assertion when he was asked about the new fuel price modulation by the government, hoping petrol does not sell more than 1350, and what he would do differently if he were to be president.

He said you cannot do fuel price modulation without doing cost modulation because if you do not do cost modulation, you are saying in essence there is price gouging, that too much profit is being made by marketers.

He asked who is going to bear the high cost of fuel, saying that the government says they are not controlling the gantry price or landing cost of crude oil if refineries are importing, only controlling the marketing margin, which is tiny, while heavy costs remain.

He asked why the government is not going where heavy costs are, noting that crude oil is the principal most expensive component of petrol pricing and costing. He asked why the government is not making domestic crude available and doing cost control to sell to refiners.

He said refiners, whether Dangote, Bua, or Watersmith, just want to make their own profit and are not particularly interested in how much petrol is sold at the pump, and they have a margin they use to calculate their own cost.

Adebayo suggested that the federal government should set aside 250,000 barrels of crude to refiners inside Nigeria to refine and remove taxation from refiners so they get crude at zero taxation and can now sell petrol cheaper to Nigerians. He said this will automatically bring the price down to about 550 naira per liter.

In his statement, “If I were in their shoes, I hope not to be in their shoes. If I were in their shoes, I would resign and go back to school and learn economics properly so that I don’t cause harm to the government and to the people. Why I say so is this.”

“Look at a very simple matter. You cannot do price modulation without doing cost modulation. Because if you don’t do cost modulation, you are saying, in essence, that there is price gouging. That is to say, too much profit is being made by the marketers.”

You Can Watch The Video (10:11 to 10:46 minutes).

Olakunlele feedback-opera-news-app@opera.com