New petrol prices ‘too little to cheer’ — PDP

Olisa Metuh, Spokesman, PDP
Olisa Metuh, Spokesman, PDP

The Peoples Democratic Party, PDP, has described the new pump prices of petrol as announced Tuesday by the Federal Government as a continuation of the All Progressives Congress, APC’s government by deception.

The PDP, in a statement by its National Publicity Secretary, Olisa Metuh, on Wednesday said besides its “deceptive element”, the reduction in the N87 per litre pump price to N86 and N86.50 per litre for the retail outlets of the NNPC and retail outlets of private business concerns respectively offered too little to cheer.

“After heightened expectations occasioned by the promise to review the N87 per litre pump price of petrol made by the administration amid crippling scarcity of the product during the Christmas season, the announcement of this tokenism has come as a disappointing anti-climax, considering that only in January this year, the PDP Federal Government reduced the pump price from N97 to N87 per litre.

“That was done in the wake of the fall in the price of crude oil to between $42.65 and $50 per barrel. The PDP government then, in reaction to the development in the global oil market, revised its pricing template that brought down the pump price by N2.84 more than the N87 fixed as the pump price of petrol. The implication was that the Federal Government was still subsidising the N87 price by N2.84 per every litre of the product.

“The APC-controlled Federal Government, consequent upon stepping in the saddle on May 29, this year considered the market and decided through a supplementary appropriation to pay N413 billion as subsidy to petroleum marketers. In announcing the new pump prices, the APC Federal Government claimed that the subsidy element has been removed. The question is; how much were we paying for subsidy when the pump price was N87? Has this marginal reduction now knocked off completely the huge subsidy paid at N87 per litre or should it not have only further reduced the size of the subsidy?

“The APC government therefore must explain what it is trying to hide. The government could not have earmarked and/or paid a whopping N413billion in subsidy through its 2015 supplementary appropriation when petrol was selling at N87 per litre and now tells us that at N86 or N86.50 per litre, no subsidy will be paid. Is it trying to make the previous government look dubious or what? This government must explain its suspicious position on the subsidy issue. Nigerians can no longer put up with ambiguities and deception.

“Nigerians must question the sincerity of this government with regards to the removal of subsidy; Nigerians should ask President Buhari to tell them in clear terms, at what ceiling of crude oil price was subsidy no longer necessary: at N87 or this new price regime?

“For the records, we also wish to remind Nigerians of the insincerity of some members of the ruling APC on the fuel subsidy claim while in the opposition. For instance, when oil fell to $66 per barrel in December 2014, the current Minister of Power, Works and Housing, Babatunde Fashola, who was the governor of Lagos State then, said: ‘Now we should be enjoying cheap fuel if the price of oil has dropped globally.

“Even as we import the product, a major component has reduced in price and while this has reduced, the pump price of fuel in the country still remains virtually the same. Then something is wrong. If the price increases in the country when the price of oil goes up globally, then it should also reduce when the price of oil drops.’

“Similarly, when oil fell to $44 per barrel in January 2015, the current Minister of Information and Culture, Lai Mohammed, who was the spokesperson of the then opposition APC said; ‘When crude oil was selling at $100 per barrel, the landing cost of PMS without subsidy was N125 per litre. Now that the oil price has crashed to about $44 per barrel, landing cost without subsidy is about N65 per litre. The same goes for diesel which should not sell for more than 90 Naira per litre.’

“Lai Mohammed had said further, ‘Early this year, Zambia slashed the price of petrol by 23 per cent while Tanzania reduced the pump price of the product by 16%. In the U.S, which until recently was importing crude oil from Nigeria, the price of fuel has fallen for 113 consecutive days as of January 16. Therefore, the 10.3% price slash in Nigeria is too meager, too late.’

PDP said Nigerians should now ask the APC what has changed in their calculations that they could not significantly reduce the pump price.

As a party, the PDP insists that never again should Nigerians allow desperate men to use lies, propaganda and intimidations to win elections and get to power, only for them to fumble and muddle through governance.


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  • Amir

    Metuh you seem to be lost on why PDP lost the 2015 elections. It is corruption, impunity, abuse of power and incompetence. Even if Buhari had presented a NEPA bill, he would have still won a free and fair election. ANYBODY BUT JONATHAN! Because 1. Nigerians cannot understand why you Metuh has a job and the president gave you a verbal assignment and paid you N450 million for your verbal response, far above 30 years income on your present job. 2. A National Security Adviser became a National Bazaar Adviser sharing money to PDP members as if there’s no country or tomorrow. These issues are beyond fuel subsidy. I believe the government is planning clever by having a pricing structure that will argument the cost of subsidy should the crude price rise in the international market.

  • TRUTH MASTER

    Why woudn’t this loud mouthed guy just sh*t the heck up? Did he know he has become a nuisance? Did the government of Jonathan ever give Nigerians any relief? Metuh has further doomed the PDP by the way he goes about his duties as the opposition spokesman

  • Akinwande Kolawole

    We are now in coins people. Hehehehehehehehehe.

    What is the meaning of this. GEJ reduced it by N10 and Fashola with Lai mohmed were giving us economic lectures why it shud be N5 per liter. Wonder what happened to their mouth now.

    I heard subsidy has been removed, that no provision for it was made available in 2016 budget.
    Now they have reduced it by 50k.

    If there is no subsidy it means any marketer bringing in PMS or DPK will not get shishi frm FG .
    If they are not going to get subsidy payment it means it has been deregulated unless they are teling us only NNPC will be importing cuz nobody imports to loose.

    I’m as confused as a groundnut seller regarding this PMS issue and that is prolly bcuz govt has not come clean.
    For them to be still controling the price means it has not been deregulated. And for them to say no subsidy means ….infact I don’t know again.

    Soo many economic comedians in dis govt. Or shud I say liars

    • TRUTH MASTER

      Don’t distort facts, mr man. GEJ increased the price of fuel and was FORCED to review it downwards. That’s nothing benevolent and you must stop pulling the wool over our eyes.

  • Gbenga Adebola

    APC remains a fraud and we can’t ever allow them to get away with their crass deception with the islamist Buhari, Nigeria is endangered

    • TRUTH MASTER

      Wailing wailers have landed. They will continue to wail until they lose their voices. Shameless people

  • Burbank

    “As a party, the PDP insists that never again should Nigerians allow desperate men to use lies, propaganda and intimidations to win elections and get to power, only for them to fumble and muddle through governance.”

    Thanks Metuh – Nigeria will NEVER again allows the evil PDP “to use lies, propaganda and intimidations to win elections and get to power, only for them to fumble and muddle through governance.”

  • Chuks

    Genuine PDP members should think of rebuilding their party and distance from the tag of a corrupt association being promoted by Metuh who alone received over N450 million from Jonathan. Metuh’s constant rant in defending corruption is not benefiting PDP, instead shows the party as irresponsible. A decent political party must not defend its members who compromised due process and the law by corruptly enriching themselves and their cronies. PDP is held hostage by a few undemocratic forces led by Metuh, and don’t seem to have learnt any lessons from the elections and recently through the judiciary.

  • dave jacob

    Though I am an avid APC guy, the #87 to #86/#86.50k per liter switch apropos subsidy removal is not straightforward. The government must be made to explain in detail how this came to be.

  • Paul Graham

    LOOTING ON PDP’s WATCH IS NOTHING TO CHEER ABOUT! A POT CALLING THE KETTLE BLACK. SHAMELESS LOT?

  • MushinSpeaks

    Can Meitalk just shut up! Your party had 16 years yet all was done was to share nation’s resources among cronies. Now weve got a man who is cleaning your Mesa and you saying shit.

  • Man_Enough

    Most of the subsidy payments was bequited to this government by pdp. If now there is no more subsidy and the fuel can still sell less than 87, i think there is much to cheer about.

  • DKING

    Mr. Metuh, the gentlemen you quoted in the APC when your principal was still in office were making some sense. Oil @ let’s say >$100 remained at N97 SINCE 2012 even when it had crashed by more than 50%. So what’s really your argument. Right now the crash since this govt. came on board is not more than 20% or thereabout. Based on existing templates which your PDP also used, there cant be a proportional % price variation. So what’s your point? Abeg go take your free course quickly from Lai as earlier offered or you might be forced to pay tuition of N450m which Dumbo gave you o> A word is enough for the wise

  • excel

    Which party is call pdp? Pdp is finished joor. All they do now is seeking irrelevant attention.

  • delbod

    The best thing for now is for the people of like mind to come together and start thinking of how to form a viable party of opposition. As for this PDP, for now ,nobody wants to listen to them, wether they make sense or not except themselves. Even they are opposition to themselves, just 2 days a go a group who said they group of vice presidents were quickly condemned by another group that there is no such as association of vice presidents in the PDP constitution . Methink the right thinking ones among them, PDP, should shut up for now and allow Metu to continue dancing naked in the market place, pending the time his name will come up in EFCC register.