Onyekachi Eze 
The People’s Democratic Party (PDP) has said that the N617 per litre price of fuel endorsed by the All Progressives Congress (APC) led Federal Government, is extortion of the Nigerian masses.
The party in a statement issued by its National Publicity Secretary, Debo Ologunagba warned that the increase would worsen the already suffocating economic situation in the country and trigger a serious crisis, if not abated.
PDP regretted that instead of seeking ways to stabilize and grow the economy, “the APC administration has abandoned the welfare of Nigerians which is the primary purpose of government under Section 14 (2)(b) of the Constitution of the Federal Republic of Nigeria, 1999 (as amended) and left the citizens to the vagaries of market forces and exploitative cabal; a disposition that is characteristic of a government that is not accountable to the people.”
According to the party, the ruling party is running Nigeria’s economy aground, noting that the nation’s currency, the naira has been devalued, “businesses and production shutting down; citizens losing their means of livelihood, commercial and social activities crippled, with millions of families no longer able to afford their daily needs as the costs of food, medication, and other essential goods and services continue to skyrocket.
“The present dire situation comes as a consequence of APC’s insensitivity, seething corruption, scandalous cluelessness, and lack of capacity to effectively steady and manage the nation’s economy.
“Indeed, this is not the nation that Nigerians yearned for after the abysmal, harrowing, and inhuman eight years of the Buhari-led APC administration as the situation has currently gone from a frightening bad to a terrifying worse with no hope in sight.”
PDP disagreed with the argument that market forces now determines the fuel price in the country, contending that it is wrong for the government to make comparison with other countries which have functional infrastructure, affordable alternative transportation system and sources of energy, as well as strong currency, and where citizens earn far higher wages, than what obtains in Nigeria.
“Our Party insists that the N617 per liter of fuel is excessive, unacceptable and cannot be justified under any guise.
“This is especially given the economic potentials and prospects within our country,” the party said.
PDP maintained that despite the removal of subsidy on petroleum products, fuel should not sell for more than N150 per liter, given the nation’s comparative advantage and expanded value chain in refining capacity.
