“Our party insists that the N617 per litre of fuel is excessive, unacceptable and cannot be justified” PDP slams FG over fuel price

The Peoples Democratic Party, on Wednesday, chided the All Progressives Congress-led Federal Government over the recent hike in the pump price of Premium Motor Spirit also known as fuel from N534 to N617 per litre.

The National Publicity Secretary of the main opposition party, Debo Ologunagba, in a statement, described the new price as provocative and extortionate, adding that the recent increment worsened the already suffocating economic situation under the leadership of the APC.

The statement read in part, “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.”

According to the statement, the present dire situation comes as a consequence of APC’s insensitivity, seething corruption, scandalous cluelessness and lack of capacity to effectively steady and manage the nation’s economy.

“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.”