The Peoples’ Democratic Party (PDP) has said the failure of the President Muhammadu Buhari-led Ministry of Petroleum Resources to find any solution to the biting fuel crisis in the country has wrecked the nation’s economy.
The party stated this in a press release signed by its National Publicity Secretary, Kola Ologbondiyan.
“It is now clear to all that President Muhammadu Buhari-led APC Government is bent at wrecking the nation.
“Instead of abating, the situation is getting worse under the APC administration, which on December 6, 2017 promised to end the fuel crisis within one week,” the statement read.
On the proposal by Minister of state for petroleum, Dr Ibe Kachikwu, for government to increase petrol price or continue to subsidise the product, the PDP said is atrocious.
Kachikwu revealed the country is paying over N900 million daily to keep the fuel price at N145/litre.
“NNPC has incurred a loss of N85.5 billion (N800-900m daily) in importing petrol and selling price at a discounted price of N145 per litre in 3 months. The landing cost is now N171 per litre,” he said.
He, thus, proposed for an increase in price or government continue to subsidise the product and according to the PDP, it is a scheme to trade away the nation’s resources to other interests under sneaky subsidy deals.
“What is more frightening is the atrocious proposals by the Minister of State for Petroleum, Dr. Ibe Kachikwu which amounts to trading away the nation’s resources to the mercy and vagaries of international interests through questionable subsidy plans that is completely against national interest.
“This same minister who denied that there are plans to increase the price of fuel is also plotting an indirect hike through a wicked price modulation plan “where NNPC will be allowed to continue to sell at N145 per liter in its few mega stations across the country while the independent marketers should be allowed to sell at whatever price is profitable to them in all their outlets,” the party said.
“This proposal will leave our economy, which is already weakened by the incompetent and corrupt APC government, in complete comatose and result in more hardship on the already impoverished Nigerians,” the statement further read.