Stop stealing from Nigerians, Buhari tells PDP

The All Progressives Congress Presidential Campaign Council (APCPCC) has

asked the Peoples Democratic Party (PDP) led Federal Government to stop
stealing from Nigerians and allow them to enjoy the relief that has come
to consumers of petroleum products globally.

A statement from the Directorate of Media and Publicity of the APC
presidential campaign said it was disturbing that in spite of the fall in
the global price of crude oil, Nigerians still buy petroleum products at
pump prices as if the global price of crude oil had remained at $100
(USD) per barrel.

The statement reads: “The current attempt by the government to deregulate
the prices of some petroleum products has been completely compromised to
satisfy few money bags to the detriment of the Nigerian people and the
economy.

“The price of diesel which has been deregulated since 2009 still sells at
the pump price of N150 and N170 per litre, the same pump price when the
international benchmark per barrel of crude was over $100. Now that the
international benchmark has dropped to $47.5 (USD) per barrel as at
Monday, we ask: where is the deregulation and the relief which it ought to
bring to local consumers of diesel?

“For the Nigerian consumers, unfortunately the collapse of crude oil price
since October 2014 has not translated into any change in diesel, kerosene
and PMS prices across the country.

“We challenge the federal government to reconcile the information on the
website of the Petroleum Products Pricing and Regulatory Agency,
indicating the maximum open market price of diesel pay per litre in
December 2014 as being at N111.6 and the fact that the price has come down
to less than $50 (USD) as at Monday.

“We want to posit that that the maximum indicative benchmark open
consumers of diesel should pay is at a margin below N100 per litre.
Therefore, Nigerians are being short-changed by about N50 to N70 on every
litre of diesel sold by government.

“The implication of this is that with average consumption of about 12 to
15 million litres, Nigerians are currently extorted of amounts between
N600 Million to N1 Billion daily due to corruption-induced poor regulatory
oversight of the Ministry of Petroleum Resources. No wonder some few
industry players are smiling to the banks and buying private jets while
small scale industrialists who buy diesel on daily basis for power
generation and transportation find it difficult to break-even with their
businesses.

“Similarly on Kerosene, information available on the website of the PPPRA
puts the Open Market Price at N114.71 per litre although the market price
is anything above N150 per litre when the global price for a barrel of
crude oil was $65 (USD). Now that international price of crude is at $47.5
(USD) per barrel, why are Nigerians still buying kerosene per litre at the
same price? Why are Nigerians not benefitting from the global shortfall in
the prices of crude by having a cut in the pump prices of petroleum
products?

“We are aware that there are examples in other African countries where
governments have cut the pump prices of petroleum products to reflect the
changes in the global oil market. Countries like South Africa, Zambia,
Tanzania and Kenya have announced cuts in pump prices of petroleum
products, why can’t the Nigerian government do same?

“Given the failure of government to do the right thing by announcing a cut
in the pump prices of these products, we are compelled to draw the
conclusion that the federal government is short-changing Nigerians
ostensibly to fund the campaign of the PDP presidential candidate.

“The APC Presidential Campaign challenges the federal government to make
explanations on why Nigerians cannot benefit pricing reliefs on petroleum
products as occasioned by the fall in the global price of crude oil.
Anything should of this is a fraud and Nigerians should take note.

“As for PMS (petrol) the only product the government agrees as regulated
at N97 per litre, the irony is that it does not even cost much as in the
United States, a country that was importing oil from Nigeria until
recently.

“Moreover, even the current budget is still heavy on subsidy with an
allocation of N458.68 billion, a scheme that has become a conduit pipe
over the years for which the children of ruling party leaders have been
beneficiaries.”