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N3trn subsidy: PDP demands disclosure of fuel importation costs

The Peoples Democratic Party (PDP) has demanded full disclosure of specifics of the subsidy templates including details of the cost of importation of petroleum products…

The Peoples Democratic Party (PDP) has demanded full disclosure of specifics of the subsidy templates including details of the cost of importation of petroleum products into the country to warrant the additional N2.557 trillion being requested for subsidy.

The PDP National Publicity Secretary, Debo Ologunagba, while reacting on Thursday, said the leading opposition party was appalled by the bare-faced move of President Muhammadu Buhari-led All Progressives Congress (APC) administration to hide under fuel subsidy to siphon and fritter a staggering N3trillion.

He described it as an “outrageous and unpardonable crime against Nigerians”. The PDP, therefore, called on the National Assembly to stand with the people and reject what it called “scandalous N2.557 trillion addition for fuel subsidy at this critical time as approving such would be a great and unpardonable disservice to Nigerians”.

He said: “Whilst the PDP is not against subsidizing petroleum products for Nigerians, our party rejects this wicked plot by the APC government to use a heavily padded fuel subsidy claims to surreptitiously funnel trillions of naira into the pockets of corrupt APC leaders and their cronies in government ahead of their shameful exit in 2023.

“The PDP already has information of how corrupt APC leaders pushed for the additional N2.557 trillion to the N443 billion already approved for fuel subsidy in the 2022 budget just to create a surplus as slush fund ostensibly for APC leaders to share as well as deploy to rig the 2023 elections.

“The APC government cannot justify the proposed increase in fuel subsidy in the face of incontrovertible evidence of slowing economy and consequential decrease in consumption of petroleum products in Nigeria due largely to the rudderless, irresponsible and insensitive economic policies of the APC as well as the adverse effect of the Covid-19 pandemic.

“Nigerians have already noted that the proposed increase is consistent with APC’s typical padding of fuel subsidy ahead of every election cycle.  It is even more disturbing the proposed increase is to be funded through external borrowings, which will further impoverish Nigerians, mortgage the future of our nation and burden future generations of Nigerians just to finance the insatiable greed of APC leaders.

“The PDP, standing with the Nigerian people, vehemently rejects the bandying of incoherent, unsubstantiated and heavily doctored figures by the APC government in its desperate lies on domestic consumption and landing costs.

“Our party challenges the APC to present the details of importation costs to Nigerians as no genuine pricing template can support such criminal increase in fuel subsidy beyond the appropriate pricing which experts posit cannot be above N500 billion,” he said.

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