Chairman of Forte Oil, Femi Otedola has reportedly reiterated his decision to begin the sale of kerosene for N50 per litre.
According to Entertainment Express, Otedola said the fuel, dubbed “Buhari kerosene” will soon start selling in stations across the country.
The move is seen as a bid by Otedola to key into the plan to alleviate poverty in Nigeria by President Muhammadu Buhari.
It was reported that Otedola made revelation about the shady activities of some oil dealers who sold kerosene as airline fuel to airline operators.
In a statement reportedly signed by the Forte Oil boss, he said: “This illicit act has been identified as the major factor contributing to the rising cost of kerosene in the country and may also be the cause of some of the air mishaps we have encountered in the country in recent times.”
Kerosene bears some semblance to airline fuel which is what made it possible for some people to engage in the illicit trade.
Entertainment Express reports that Otedola said the emergence of ‘mushroom marketers’ gave way to the sale of kerosene as airline fuel. He accused these people of trying to make quick cash.
Otedola made the statement that kerosene was being substituted for airline fuel due to the recent spate of plane crashes and airline problems in the country. He added that if the people engaging in the illicit business are apprehended, it will reduce the cases of airline problem in the country.