Yekini Nabena faults PDP’S prom­ise to re­duce petrol price to N87 per litre

The Guardian (Nigeria) - - NEWS - From Adamu Abuh, Abuja

ACHIEFTAIN of the All Pro­gres­sives Congress (APC), Mr. Yekini Nabena, has faulted the claim by the op­po­si­tion Peo­ples Demo­cratic Party (PDP) that it is ca­pa­ble of peg­ging the price of a litre of fuel at N87 as against the pre­vail­ing N145.

Nabena, in a state­ment, de­scribed the claim as a cheap po­lit­i­cal gist de­signed to hood­wink un­sus­pect­ing vot­ers ahead of the 2019 elec­tion. Ac­cord­ing to him, the claim by the PDP clearly in­di­cates that the party is keen on rein­tro­duc­ing the regime of fuel sub­sidy in the coun­try. Nabena said that a pe­rusal of well- en­trenched and ver­i­fi­able mar­ket fun­da­men­tals clearly in­di­cated that the prom­ise was vir­tu­ally an­chored on fic­tion and lim­ited knowl­edge of the petroleum in­dus­try.

“The fact, as we speak, is that at a petrol cost un­der re­cov­ery fluc­tu­at­ing be­tween N60 and N70 per litre pro­pelled by vaunt­ing crude oil price of around $81 per bar­rel, the only way the bo­gus prom­ise could be pos­si­ble al­beit un­rea­son­ably, is through the re-in­tro­duc­tion of the PDP styled sub­sidy pay­ment schism which al­most bled the na­tion to death.

“It is shock­ing to note that at a pe­riod when the na­tion is look­ing ahead to em­brace the even­tual dereg­u­la­tion of the down­stream sub-sec­tor of the oil and gas in­dus­try to al­low for eq­ui­table pri­vate sec­tor par­tic­i­pa­tion and break the seem­ing NNPC mo­nop­oly of fuel im­porta- tion, the PDP is plot­ting a re­ver­sal of the spi­ral­ing wheel of progress.

“No doubt, if the PDP had been clair­voy­ant enough in its long years of ruler­ship to fix the lo­cal re­finer­ies and make them work for the ben­e­fit of Nige­ri­ans, the coun­try would have reaped boun­ti­fully from the gains of higher price of crude oil while op­ti­miz­ing the ben­e­fits that comes with lo­cal pro­cess­ing of its God-given nat­u­ral re­source.”

Nabena al­leged that there is more to the re­cent par­ley be­tween the PDP pres­i­den­tial can­di­date, Al­haji Atiku Abubakar; his run­ning mate, Mr. Peter Obi; Se­nate Pres­i­dent, Dr. Bukola Saraki and the party’s na­tional chair­man, Uche Se­con­dus in Dubai than meet the eye.

“Our in­tel­li­gence, anti-graft and se­cu­rity agen­cies must be awake to its re­spon­si­bil­ity of in­ves­ti­gat­ing the Dubai meet­ing. Cash and carry politi­cians must be pre­vented from mov­ing il­licit cash around to in­duce vot­ers and spon­sor elec­tion vi­o­lence and rig­ging.

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