BUSINESS – The People’s Democratic Party (PDP) have come out to confidently assert that its presidential candidate will reduce the cost of premium motor spirit (PMS), popularly known as petrol to N87- N90 per litre.
The party claims to have become painfully aware that President Muhammadu Buhari’s administration is fleecing Nigerians. An investigation alleged to have been carried out revealed that the government diverts N58 on every litre of petrol.
A statement by Kola Ologbondiyan said: “Our Presidential candidate, Atiku, has worked out a pricing template that will immediately crash the pump price of fuel in the country, since the Buhari-led APC administration, in its insensitivity, has failed to do the needful in the last 3 years.
“We completely reject the Buhari-led FG’s increase of the official prices of diesel and kerosene. Such increment will bring more economic pressure on the already impoverished nation, as most businesses and homes across the country heavily rely on these products for sustenance
“Our Party is talking with top international players in the oil and gas industry, and this engagement has shown that the appropriate pump price of fuel in the Nigerian market, under the current subsidy regimes of the Buhari Presidency, should be within the borders of N87 to N90.
“With the current price template of crude oil in the international market, the Buhari administration has no justification to keep the pump price of fuel at N145 per liter and watch Nigerians groan under the weight of high prices, while a cabal at the presidency loot the funds.
“For every N145 paid for a liter of fuel, the Buhari Presidency cabal diverts a hidden N58 which Nigerians have continued to pay since the fuel price was increased from N87 to presumably subsidized cost of N145.
“Apart from the N1.4 trillion allegedly siphoned through sleazy oil subsidy deals, the Buhari-led FG is burdened to account for the over N3.49 trillion stolen under the hidden N58 per liter of fuel on over 50 million daily domestic consumption estimated in the last three years.
“We urge Nigerians not to despair as our Presidential candidate, Atiku, has already worked out a blueprint that will end sleazes, ensure appropriate pricing template and free resources to guarantee the availability of product on a national pricing regime.”