Economy

PDP Rejects N123.5 Fuel Price Tweak, Explains How It Arrived At N90 Per Litre

The Peoples Democratic Party (PDP) has rejected the April 1 tweaking of fuel price from N125 to N123.5 instead of the appropriate N90 per liter canvassed by Nigerians.

The party described the reduction of pump price by N1.50k as offensive, fraudulent; a further display of cruelty and insensitivity of the All Progressives Congress (APC) to the plight of Nigerians, particularly as the country battles the impact of the COVID-19 pandemic.

The PDP insisted in a statement by its National Publicity Secretary Kola Ologbondiyan that the correct price of pump price fuel is between N80 to N90 per liter, given the slump in the price of fuel and crude oil in the international market.

The PDP held that any price beyond that is completely unacceptable, as it amount to fleecing Nigerians.

The party berated the APC administration for attempting to delude Nigerians by tweaking the cost decimals to create a misleading impression of price reduction while fleecing the unsuspecting public.

The PDP challenged the APC and its administration to explain how they arrived at the pump price of N123.5 instead of the appropriate price of N90 per liter despite the fall in international price.

The PDP asked the President Muhammadu Buhari administration to disprove Nigerians by immediately publishing the full prevailing landing cost, the prevailing 3% depot cost, the 3% trucking cost as well as the retail outlet admin cost and show why the pump price should be above N90 per liter.

“It indeed smacks of heartlessness that the APC, its leaders and cronies in government circle are rather manipulating fuel costs at this critical time when other governments across the world are seeking ways to mitigate the economic hardship being faced by their citizens.

“Our party maintains that since Nigerians earlier had to bear the brunt of high cost of fuel in the face of high oil prices in the international market, it is only fair that they also enjoy the benefits of the cut in international prices; an advantage the APC had continued to deny them,” the party stated.

The PDP invited Nigerians to note how the APC and its leaders had remained silent and failed to support the demand for reduction of fuel price; a development that only points to apparent complicity in this sleazy scheme against the citizens.

The PDP therefore charged the APC and its administration to immediately reduce the pump price to the appropriate price of N90 as well as refund the accruable, so far, from the N35 per liter difference and channel same to provision of palliatives to Nigerians.

The party also challenged the APC to join the PDP and other well-meaning Nigerians in their persistent demand that President Buhari orders the recovery of over N14 trillion oil money stolen by APC leaders in the last four years including the stolen N9trillion detailed in the leaked NNPC memo, and redirect same to the welfare of Nigerians.

Furthermore, the PDP reiterated its demand for the establishment of Eminent Nigerians Group to manage donations towards mitigating the impact of COVID-19 and ensure that the palliatives get to venerable Nigerians without any political and bureaucratic bottlenecks.

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