The Peoples Democratic Party (PDP) have said that its presidential candidate will reduce the cost of premium motor spirit (PMS) to 87-90 naira per litre.
This is contained in a statement by Kola Ologbondiyan, spokesman of the PDP on Thursday, November 1, 2018.
According to the PDP, former Vice President Atiku Abubakar has consulted with international players in the oil industry and found that the President Muhammadu Buhari administration is fleecing Nigerians.
The party said that the cabals within the President Buhari’s government are diverting 58 naira on every litre of petrol sold. The PDP 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 litre 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”.
The party asked that the APC government should account for 3.49 trillion naira “stolen” under the subsidy regime.
“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”.