Governor Adams Osh­iomhole of Edo State said that with the sliding price of crude oil, Nigerians will in the near­est future be made to pay higher prices for petroleum products.
According to Oshiomole, ?Now oil price has dropped to $60 and because we have not saved, the naira is undergoing devaluation. Already as low as N180 per dollar and I believe by February when the elections are over, nobody is going to want to hold the naira.?
He made the statement during a visit of the Association of Eni­gies from Edo South to him on yesterday.
?Wherever the election goes, I expect that the naira will hit over N200 per dollar. The infla­tionary consequence of that is prices of everything will go up and part of the vicious cycle of the devalued naira in the man­ner that is being done is that the price of petroleum products imported in dollars will go up in naira and government will be asking people who are already poor to pay more money for pe­troleum products,? he said.


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