N170 Fuel Price Wicked, Unbearable, Says PDP

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Press Statement

The Peoples Democratic Party (PDP) rejects an increase in the pump price

of fuel to N170 per liter by the All Progressives Congress (APC)

government, describing it as wicked, unbearable and unacceptable,

particularly given the prevailing excruciating economic crunch already

foisted on Nigerians  by the Buhari administration.

The party insists that this increase in the pump price will worsen the

already suffocating economic situation in the country.

Such hike will also be an additional log tied on the economic neck of

Nigerians.

The PDP holds that the APC and its administration have no justification

to increase the cost of fuel to anything above N100 per liter talk less

of N170, when there are practical options to maintain affordable price

given our production capacity and potentialities.

It is evident that the continuous increase in the pump price of fuel

under opaque and nebulous indices is a product of incompetence and large

scale corruption being perpetrated by a few individuals in the Buhari

administration, who are bent on fleecing Nigerians and holding our

nation to ransom.

Our party notes that the APC administration has failed to come clean on

the parameters being used for the hike in prices vis-a-vis our

production, export and accruing revenue.

Indeed, the APC administration is not being honest with Nigerians

regarding the status and volume of oil production, sales and accruing

revenue.

This is in addition to its failure to fix our refineries and end crude

oil theft, allegedly to aid APC interests.

This appears to provide answers to why the APC administration has failed

to offer any explanation on huge fraud going on in the management of our

nation’s oil resources including the alleged stealing over N9.6 trillion

($25 billion) by APC interests, as detailed in the leaked NNPC memo.

It has also failed to publish details of its sleazy oil subsidy regime,

including the involvement of APC interests in the claimed under-recovery

for unnamed West African countries, running into trillions of naira,

while Nigerians are made to bear the burden of high fuel costs.

Such humongous fraud in the management of our oil resources is

responsible for the high costs and unspeakable hardship being suffered

by millions of Nigerians who can barely afford their meals and basic

necessities of life.

Our party urges President Buhari to end the corruption and the stealing

of our oil resource under his watch by APC leaders, recover the looted

resources and immediately reverse this increase in price of fuel.

President Buhari should also take steps to fulfill his promise to revamp

our refineries or accept his failures and apologize to Nigerians.

It is still not yet late for him to get more competent hands to run our

oil sector instead of imposing more hardship on Nigerians.

Signed:

Kola Ologbondiyan

National Publicity Secretary

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