Abuja - Alhaji Sani Shehu, President of the Miners Association of Nigeria, has appealed to commercial drivers and transporters to reduce transport fares to commensurate with the reduction in petrol pump price.
Shehu made the appeal in an interview with media on Wednesday in Abuja.
He noted that drivers had continued to charge high fares even after the reduction of petrol pump price from N97 to N87 by the Federal Government.
The president said after the reduction of petrol price, transport fares that should have dropped.
He said the the price reduction, which ought to make positive impact on the lives of the people, had remained the same.
"We hope the transporters will also be considerate to reduce the transport fares so that Nigerians will feel the positive impact in the reduction of petrol price.
"The reduction in the local pump price is what we are expecting; it is a step in the right direction," Shehu said.
Shehu said since the oil sector had been deregulated, "if the fuel price goes up or comes down at the international market, it should reflect locally''.
He said Nigeria should diversify its economy to solid minerals, agriculture, entertainment, tourism and taxation as an alternative to falling price of crude oil at the international market.
"Usually in other oil rich nations, economic diversification is met at the boom period.
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"Unfortunately, Nigeria seems to have missed the chance when oil sold at over 100 dollars per barrel.
"We should have used the excess from the crude oil because we pegged the price for oil at the last budget at around 76 dollars but the price went as far as 115 dollars.
"When there is excess increase in the price of oil what other nations do is to use the excess to develop other areas of high potentials," he said.
The president said Libya invested its excess crude oil money on massive infrastructure, developed gas sector and offshore investment all over the world.
He said there were areas of focus like the solid minerals which had potentials for foreign exchange earnings.
According to him, the solid mineral sector should be captured in the country’s economic policy.
Shehu said the development of the sector had become necessary as solid minerals sector was the only scheme that could bail the country from the currently economy predicament.