News

Fuel Price: N170 Hike Wicked, Unbearable, Unacceptable – PDP

The Peoples Democratic Party (PDP) has described, as “wicked, unbearable and unacceptable”, an increase in the pump price of fuel to N170 per litre by the “All Progressives Congress (APC) government.”

The party said it rejected the increase, given the “prevailing excruciating economic crunch already foisted on Nigerians  by the Buhari administration.”

The party, in a statement issued by its Spokesman, Kola Ologbondiyan, insists that the increase in the pump price will worsen what he calls, the already suffocating economic situation in the country.

According to Ologbondiyan, such hike will also be an additional log tied on the economic neck of Nigerians.

He said, “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.”

The PDP spokesman said that the APC administration has failed to come clean on the parameters being used for the hike in prices in relation to the country’s production, export and accruing revenue.

He accused the APC administration of not being honest with Nigerians regarding the status and volume of oil production, sales and accruing revenue.

This, he noted, is in addition to the administration’s failure to fix refineries and end crude oil theft.

Ologbondiyan further came hard on the party, “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.”

He also argued that “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.”

He called on President Muhammadu Buhari to end what he termed, the corruption and the stealing of the country’s oil resource under his watch by APC leaders, recover the “looted resources and immediately reverse this increase in price of fuel.”

Buhari, according to him, should also take steps to fulfill his promise to revamp the refineries

He concluded, “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.”

Leave a Reply