APC Justifies Petrol Price, Electricity Tariff Hikes, Urges PDP to Return Stolen Fuel Subsidy Loot

The All Progressives Congress (APC) has described as “shameless”, a statement by the Peoples Democratic Party (PDP) on the current petrol price and electricity tariff in the country, saying, the main opposition

In a statement signed by its Deputy National Publicity Secretary, Yekini Nabena, the ruling APC said: “For successive PDP governments that foisted on the country a corruption-tainted fuel subsidy regime, we call on the PDP to surprise itself and indeed Nigerians by cajoling its cronies who ran the subsidy rackets — many of them in hiding abroad — to return our stolen commonwealth in their possession.”

The party said that under the President Muhammadu Buhari administration, the tortuous fuel queues as a result of biting scarcities have become a thing of the past.

“The reviewed petroleum products pricing template has resulted in a more transparent, efficient and realistic pricing system for petroleum products and also resulted in constant availability of fuel nationwide”, it said.

According to the APC, the current pricing template reflects competitive and market driven components, which is supported by the citizenry.

“In an effort by this administration to put an end to estimated and arbitrary billing for electricity, President Buhari recently directed a nationwide mass metering programme for electricity consumers in the country.

“For the PDP that is only concerned with pushing the interests of its few cronies over the general interest and welfare of the citizenry, we don’t expect the PDP to grasp the import of this landmark presidential directive which aside improving electricity and service delivery, is also protecting the poor and vulnerable Nigerians from increased electricity tariff and arbitrary/estimated billings.

“Commendably, the federal government is already working to ensure that Electricity Distribution Companies (DISCOs) commit to increasing the number of hours of electricity supply every day and also improve on their quality of service.

“Perhaps the PDP is also unaware that the current administration has approved a one-year waiver of import levy on electricity meters, so that Nigerians who do not have meters can be supplied as early as possible at a reasonable cost.

The APC calls on the PDP to wake up to the new Nigeria where the government works for the citizens not a few interests.

ArmadaNews had reported that the Pipelines and Product Marketing Company (PPMC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC), has increased the ex-depot price of premium motor spirit (PMS) otherwise known as petrol to N151.56 from N138.62 per litre.

The ex-depot price is the price at which petroleum product is sold to oil marketers at the depots. An upward adjustment in ex-depot price of petrol, results in increase in the pump price.

The new ex-depot price was conveyed to petroleum products depot owners in a circular issued on Wednesday by Mr. D.O Abalaka of PPMC.

The circular reads: “Please be informed that a new product price adjustment has been effected on our payment platform.To this end, the price of Premium Motor Spirit (PMS) is now one hundred and fifty-one naira, fifty-six kobo (N151.56k) per litre. This takes effect from September 2, 2020.”