On Wednesday, the Peoples Democratic Party chastised the federal government, which is currently being run by the All Progressives Congress, over the recent increase in the pump price of Premium Motor Spirit, popularly known as fuel, from N534 to N617 per litre.
Debo Ologunagba, the national publicity secretary of the main opposition party, referred to the increased pricing as provocative and outrageous in a statement, saying that the recent increase made the already dire economic condition under the APC’s rule even worse.
The statement partly read, “Our party insists that the N617 per litre of fuel is excessive, unacceptable and cannot be justified under any guise. This is especially given the economic potential and prospects within our country.
“It is appalling that instead of seeking ways to stabilise and grow the economy, the APC administration has abandoned the welfare of Nigerians which is the primary purpose of government under Section 14 (2)(b) of the Constitution of the Federal Republic of Nigeria, 1999 (as amended) and left the citizens to the vagaries of market forces and exploitative cabal; a disposition that is characteristic of a government that is not accountable to the people.
“The PDP is alarmed that with its ill-thought out, badly planned and hurriedly-executed policies, the APC is running Nigeria’s economy aground with the value of naira rapidly plummeting, businesses and production shutting down; citizens losing their means of livelihood, commercial and social activities crippled, with millions of families no longer able to afford their daily needs as the costs of food, medication and other essential goods and services continue to skyrocket.”
The statement claims that APC’s insensitivity, roiling corruption, scandalous ignorance, and inability to successfully stabilize and manage the country’s economy are to blame for the grave scenario that exists today.
“Indeed, this is not the nation that Nigerians yearned for after the abysmal, harrowing and inhuman eight years of the Buhari-led APC administration as the situation has currently gone from a frightening bad to a terrifying worse with no hope in sight,” the statement said.
Faulting the governing party’s justification of the recent hike in PMS price, the PDP stressed that the “lame argument of market forces and comparison of the price of fuel in Nigeria with those of other countries which have functional infrastructure, variety of affordable alternative transportation system and sources of energy; strong currency and where citizens earn far higher than what obtains in Nigeria,” makes the new price regime indefensible.
According to the party, “Even with the removal of subsidy on petroleum products, with a deft, transparent and innovative management of resources, economic potentials, national comparative advantage and expanded value chain in refining capacity, fuel should not sell for more than N150 per litre in Nigeria.”