The All Progressives Congress (APC), the ruling party in Nigeria, has denied that the Tinubu-led administration has brought back fuel subsidy through a covert scheme. The party said that the government’s intervention in the fuel market was meant to ensure a stable and predictable price for consumers.
According to some reports, the government spent N169.4 billion in August to maintain the fuel pump price at N620 per litre.
The opposition Peoples Democratic Party (PDP) and its presidential candidate, Alhaji Atiku Abubakar, seized on this revelation to criticize the administration of President Bola Tinubu, accusing it of hypocrisy and corruption.
However, the APC dismissed these allegations as “fake news” and “inanities” from a desperate opposition. The party said that the government was not paying any subsidy to marketers, but rather compensating them for the difference between the landing cost and the pump price of fuel.
“Shaibu’s claim that fuel subsidy is back is not correct. Government’s intervention to ensure some measure of price stability and predictability does not amount to return of the ruinous fuel subsidy of recent past”, APC stated.
In a statement released on Monday night, APC spokesman, Felix Morka responded to Shaibu’s “unfledged statement” in which he accused the APC-led Administration of deceiving Nigerians with propaganda.
Morka said that Shaibu’s “cynical and pathological flippancy” showed that he was ignorant or incapable of understanding the issues he was talking about, due to the post-electoral traumatic stress disorder (PeTSD) caused by his boss’ repeated electoral defeats.
“Unsurprisingly, Shaibu’s only ‘evidence’ for such an arrant conclusion is that President Bola Ahmed Tinubu has appointed more media aides than economic and security advisers, conveniently glossing over the fact that Mr. President was swift in rejigging the security architecture and repositioning the Armed Forces for optimal performance in defence of lives and property.
“Certainly, he does not understand the issues and the interplay of statecraft and economic management initiatives by President Tinubu to remove age-old distortions and contradictions, accelerate and solidify all round recovery and prosperity for our country.
“That Shaibu described as ‘lies’, the administration’s courageous decisions to remove fuel subsidy, harmonize the foreign exchange regimes and sign into law the Students’ Loan Act, only buttresses his poor understanding of economic development and governance. That the fine details of these visionary and people-centred policies are still being worked out and have yet to run their due course cannot and do not negate their valid objectives and potential transformative impact. The President has dutifully appointed experienced and highly skilled professionals to key institutions of the economy, including the Ministry of Finance, Central Bank of Nigeria CBN, and Federal Inland Revenue Service FIRS and created the Ministry of Marine and Blue Economy in a patriotic zeal to reposition and grow the economy.
“Lifting the Visa ban on Nigerians by the United Arab Emirates UAE authorities should ordinarily make any well-meaning Nigerian happy. Diplomatic rapprochement between Nigeria and UAE authorities is ongoing and details of outcomes will soon be made public.
“The matter of the proposed meeting with United States of America President Joe Biden does not even require elaboration. Having met with President Tinubu on the sidelines of the G-20 Nations summit in India, another meeting with President Biden during the United Nation’s General Assembly UNGA had become unnecessary and was not even on President Tinubu’s schedule, contrary to preliminary indications on the matter”, said the APC spokesman.