PDP Assured Fuel Pump To N87 If Atiiku Wins Presidency

PDP Assured Fuel Pump To N87 If Atiiku Wins Presidency
Kola Ologbondiyan

PDP Assured Fuel Pump To N87 If Atiiku Wins Presidency

  • NNPC moves against scarcity, augments shortfalls with $1b

APC right now when they read this from PDP 

PDP Assured Fuel Pump To N87 If Atiiku Wins Presidency
How APC React While Atiku Promise Fuel Pump Of N87

APC  right now when they read this from PDP

it’s true that political promise and infatuation are not different from lies. But I wouldn’t want to say the party is not competent, though they may have a more positive perspective for the nation Nigeria than the current ruling part and government of president Buhari. But how will the fuel pump price return to N87? What are the plans they have in place to make this possible?

We should be asking questions to know how they will do it and not after they are being elected it would become a thing of past glory or words without actions. If we could remember history, APC the current ruling party in Nigeria made same promise and could not even put it to practice. It even went worst that fuel price hiked to even 500 per liter, and later 145 naira to it current price. Well Nigerians are not stupid, we only have to think so we don’t get bamboozle like APC did to the nation.

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Meanwhile, The Peoples Democratic Party (PDP) yesterday promised to return the pump price of petrol from N145 to N87 per litre if its presidential candidate, Atiku Abubakar, is elected next year.

In a statement by its national publicity secretary, Kola Ologbondiyan, PDP said Atiku had worked out a template that would immediately crash the price.

Also read: NNPC Denied Supposed $3.8 Billion Subsidy Fund

The party said it had gathered from high-level engagements with top international players in the oil and gas industry that a price regime of between N87 and N90 was very feasible under the current subsidy system of the Muhammadu Buhari presidency.

It rejected the Federal Government’s increase in the pump prices of diesel and kerosene, arguing that the development had further impoverished the citizens, businesses and the nation at large. The opposition party said “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 in the presidency loots the funds meant to subsidise the product.”

In a related development, the Nigerian National Petroleum Corporation (NNPC) has signed a six-month Direct Sale-Direct Purchase (DSDP) agreement with British Petroleum’s (BP) trading arm, BP Oil International Limited, for the supply of petrol.

The move is part of measures to sustain the robust supply of petroleum products nationwide to check scarcity especially during the Yuletide.

The agreement represents 20 per cent of NNPC’s total PMS supply under the arrangement, which basically allows the corporation to exchange crude oil with international oil traders for products over a period of time.

NNPC Group Managing Director, Dr. Maikanti Baru, at the signing ceremony in Abuja, was quoted to have said that as the nation’s supplier of last resort, the state oil agency was committed to product availability by inviting new and old players to participate in the sector.

Also yesterday, Baru said the corporation was using $1.05 billion of Liquefied Natural Gas (LNG) earnings to augment the daily bridging of petrol prices. He made the disclosure while addressing the Senate ad hoc committee investigating the alleged application of $3.5 billion petroleum subsidy by the NNPC. He, however, denied the existence of such fund.