The All Progressives Congress Presidential Campaign Council (APCPCC) has called on the Peoples Democratic Party (PDP) led Federal Government to stop stealing from Nigerians and allow them to enjoy the relief that has come to consumers of petroleum products globally. Buhari's rally at Owerri today

A statement from the Directorate of Media and Publicity of the party’s presidential campaign said it was disturbing that in spite of the fall in the global price of crude oil, Nigerians still buy petroleum products at pump prices as if the global price of crude oil had remained at $100 (USD) per barrel.

“The price of diesel which has been deregulated since 2009 still sells at the pump price of N150 and N170 per litre, the same pump price when the international benchmark per barrel of crude was over $100,” it said, calculating that Nigerians are being short-changed by about N50 to N70 on every litre of diesel sold by government.  “Now that the international benchmark has dropped to $47.5 (USD) per barrel as at Monday, we ask: where is the deregulation and the relief which it ought to bring to local consumers of diesel?”

The Presidential Campaign Council drew attention to such African countries as South Africa, Zambia, Tanzania and Kenya where governments have cut the pump prices of petroleum products to reflect the changes in the global oil market, and questioned why Nigeria has not done the same.  It described anything short of that as a fraud that Nigerians should take note of.

"As for PMS (petrol) the only product the government agrees as regulated at N97 per litre, the irony is that it does not even cost much as in the United States, a country that was importing oil from Nigeria until recently,” the statement said.  

The APC campaign further pointed out that even the current federal budget is still heavy on subsidy, with an allocation of N458.68 billion, a scheme that, it stressed, has become a conduit pipe over the years for which the children of ruling party leaders have been feeding. 

 

 70 on every litre of diesel sold by government.


“The implication of this is that with average consumption of about 12 to 15 million litres, Nigerians are currently extorted of amounts between N600 Million to N1 Billion daily due to corruption-induced poor regulatory oversight of the Ministry of Petroleum Resources. No wonder some few industry players are smiling to the banks and buying private jets while small scale industrialists who buy diesel on daily basis for power generation and transportation find it difficult to break-even with their businesses.


“Similarly on Kerosene, information available on the website of the PPPRA puts the Open Market Price at N114.71 per litre although the market price is anything above N150 per litre when the global price for a barrel of crude oil was $65 (USD). Now that international price of crude is at $47.5 (USD) per barrel, why are Nigerians still buying kerosene per litre at the same price? Why are Nigerians not benefitting from the global shortfall in the prices of crude by having a cut in the pump prices of petroleum products?


“We are aware that there are examples in other African countries where governments have cut the pump prices of petroleum products to reflect the changes in the global oil market. Countries like South Africa, Zambia, Tanzania and Kenya have announced cuts in pump prices of petroleum products, why can’t the Nigerian government do same?


“Given the failure of government to do the right thing by announcing a cut in the pump prices of these products, we are compelled to draw the conclusion that the federal government is short-changing Nigerians ostensibly to fund the campaign of the PDP presidential candidate.


“The APC Presidential Campaign challenges the federal government to make explanations on why Nigerians cannot benefit pricing reliefs on petroleum products as occasioned by the fall in the global price of crude oil. Anything should of this is a fraud and Nigerians should take note.


"As for PMS (petrol) the only product the government agrees as regulated at N97 per litre, the irony is that it does not even cost much as in the United States, a country that was importing oil from Nigeria until recently.


"Moreover, even the current budget is still heavy on subsidy with an allocation of N458.68 billion, a scheme that has become a conduit pipe over the years for which the children of ruling party leaders have been feeding. 

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