Fuel Subsidy: PDP Tackles APC, Accuses FG Of Plot To Siphon N3trn

The Peoples Democratic Party (PDP) has accused the ruling All Progressives Congress (APC) led Federal Government of a plot to siphon N3 trillion under the guise of financing fuel subsidy.

In a statement on Thursday by its National Publicity Secretary, Debo Ologunagba, it described the government’s request for the approval of the sum by the National Assembly as a scam.

While the main opposition party said it was not against suspension of the fuel subsidy removal, it stressed that spending N3 trillion for subsidising was outrageous and an unpardonable crime against Nigerians.

It also demanded full disclosure of specifics of the subsidy templates, including details of the cost of importation of petroleum products into the country.

The PDP, in the statement, urged the National Assembly to reject the request, saying approving such would be a great disservice to Nigerians who elected them as their representatives.

Read the full statement by the party below:

The Peoples Democratic Party (PDP) is appalled by the bare-faced move of the President Muhammadu Buhari-led All Progressives Congress (APC) administration to hide under fuel subsidy to siphon and fritter a staggering N3trillion, describing it as outrageous and unpardonable crime against Nigerians.

Whilst the PDP is not against subsidising petroleum products for Nigerians, our party rejects this wicked plot by the APC government to use 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 demands 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 by the corrupt APC administration.

The PDP already has information on 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 a 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.

Is it not revealing that while fuel subsidy was N24 billion in 2016 and rose to N144.53 billion in 2017, it spiked to N878 billion in 2018 ahead of the 2019 elections; remained at N551.22 billion in the election year of 2019, only to drop to N102 billion in 2020, after the elections?

It is clear that the APC increased fuel subsidy to N1.4 trillion in 2021 and now barefacedly seeks an additional N2.557 trillion to have a cumulative subsidy bill of N3 trillion in 2022 to prosecute the 2023 elections having realized that it has a tough battle with Nigerians because of its monumental failures.

It is even more disturbing that 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.

The PDP, therefore, calls on the National Assembly to stand with the people and reject the scandalous N2.557 trillion addition for fuel subsidy at this critical time as approving such would be a great and unpardonable disservice to Nigerians.

Signed:
Hon. Debo Ologunagba
National Publicity Secretary