The People’s Democratic Party (PDP) query and bashed the Buhari led government for recently removing fuel subsidy and increasing fuel pump price in the country to per N161 per litre.
But the ruling All Progressives Congress (APC) has condemned PDP for query Buhari as they don’t have any moral right to caution the President administration.
The APC Deputy National Publicity Secretary, Yekini Nabena said on Sunday that the subsidy regime and the Nigerian National Petroleum Corporation (NNPC) have been so transparent under Buhari administration.
APC added that, previous PDP administration, same NNPC was accountable to no one that it owed the government up to the sum of N704 billion for gross violations of the subsidy scheme.
While between 2006 and 2013, the previous PDP government spent over N5.42 trillion on subsidy, which higher than the 2014 national budget of N4.69 trillion.
“It was also under the PDP government that the number of fuel importers rose from 5 in 2006 to 10 in 2007, 19 in 2008 and spiked up to 140 in 2011.
We see this as one of the biggest causes of corruption, because many firms only existed on paper and collected subsidies on fuel that never existed.
They added that, the worst parts of it is that 60 million barrels of oil valued was stolen under the watch of PDP controlled NNPC between 2009 and 2012.
While NNPC during that time failed to remit US$20 billion in oil revenues owned to the nation, as this was confirmed by PwC and Deloitte investigation reports.
For this reason, the previous government, PDP has no right or reason to cry wolf over subsidy under President Buhari administration, APC said.
But Kola Ologbondiyan, reacted to the statement APC issued, as they asked the Governor Mai Mala Buni-led APC National Caretaker Committee to stop sending “impostors and charlatans” in his party to insult PDP.
Apparently, it was referring to Nabena who is not a National Working Committee (NWC) member of the APC.
“It is incontrovertible that contrary to the lies of APC impostors, between 2006 and 2013, successive PDP administrations, effectively managed the resources of our nation and grew our economy to become one of the fastest growing in the world as recorded by Fitch and the IMF.
PDP has achieved by historical debt relief (of about $18 billion), which freed Nigeria from the suffocating shackles of huge external borrowings of the past.
Second, the PDP administrations reduced our nation’s budget deficits by 72%, stabilized our currency and overall economy to achieve the doubling of our GDP within four years from $55.65bn in 2003 to $114.36bn in 2006, as acknowledged by IMF database.
They added by saying, The improved our FDI from less than $700 million per annum in 1999 to $4.3 billion by 2007, which earned Nigeria a BB credit rating by Fitch.
It was incredible hearing this right? because “It is incontrovertible that life was better in our country under the PDP and that the purchasing power of Nigerians in general experienced its highest in our contemporary history under the PDP.
PDP Party therefore counsels the APC to rather advise President Buhari to wake up to the demands of governance by ending the corruption in his oil revenue management.