Former Minister of Petroleum and Energy, Tamunoemi David-West has said that President-elect, Muhammadu Buhari will reduce the fuel price to N40 per litre when he assumes office.

Professor David-West also said that Buhari has the credibility to boost the performance of the oil industry.

The former minister reportedly made the statements during a telephone interview with Vanguard.

“I want to assure you that by the time he takes over, petrol will be dispensed at N40 per litre. This is possible and he has the credibility to make it work,” David-West said.

“As military head of state, he dealt with the Federal Executive Council with the tenets of democracy. Buhari will build new refineries to make petroleum products available for the masses. No responsible government will allow the masses to suffer,” he added.

“He will strengthen the refineries within a year. It is possible as we won’t spend any amount in setting up a green field refinery. We already have a blueprint as we shall use what we have to get what we want,” the ex-minister said.

Petrol is currently selling at N87 per litre in Nigeria after being reduced from N97 in January 2015.