Why kerosene will continue to rise above ₦800 per litre – Babajide Otitoju

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The last few months in Nigeria have witnessed a massive spike in the price of petroleum products. In fact, while petrol (fuel) is now sold above ₦169 per litre in states across Nigeria, the price of Kerosene, which was sold at ₦700 per litre according to reports last week has now skyrocated to ₦800 to ₦1000 per litre.

However, on ‘Journalists Hangout’ yesterday, Babajide Kolade-otitoju said that he is not surprised that the cost of Kerosene has risen this way. He explained that Nigeria’s refusal to fix the refineries in the country was responsible for the energy crises in the country. According to Babajide, Kerosene will continue to be expensive as long as aviation fuel is expensive because Kerosene is a Petroleum product that is very similar to aviation fuel.

He said: “many airplanes use Kerosene to fly, so if aviation fuel is a problem then the price of Kerosene should not surprise you. The rise in the price of diesel is also directly proportional to the rise in the price of Kerosene. In other words, if the price of diesel has gone up because the value of Naira is sliding, we should expect the same thing for Kerosene”.

Speaking further, the Nigerian investigative journalist and news editor said that God blessed Nigeria with natural resources but we are suffering because our leaders cannot build refineries. He lamented that Nigeria is the only OPEC nation that imports Petroleum products from even non-prtroleum producing countries.

How much is Kerosene sold for in your area?