All Progressives Congress in Oyo State has demanded from the Federal Government, an immediate reduction in the pump prices of petroleum products in view of the crash of the price of crude oil in the international market.



In a statement issued in Ibadan on Sunday by its Director of Publicity and Strategy, Olawale Sadare, the APC recalled that President Goodluck Jonathan and his economic team arrived at N97 per litre of PMS in 2012 citing skyrocketing prices of crude oil in the global market which necessarily rubbed on high landing cost of imported petroleum products particularly the premium motor spirit otherwise known as petrol.



“The oil price has fallen by 49% from 2013 prices and Jonathan administration still claimed it spent a whooping N971b on its subsidy payment in 2014. Does it mean that Nigeria has been buying refined petroleum products at the same rate from nations with functional refineries despite the crash in crude oil prices? How come Ghana was able to implement a 13% reduction in the prices of same products in its local market?



“As much as we know that the present administration would never be transparent in its economic dealings with the citizenry since it has prioritized promotion of corruption and pursuit of parochial interests, we challenge the president and his economic team to be fair to Nigerians for once and implement a drastic reduction in the pump prices of petroleum products with a view to alleviating the suffering which the masses currently experience.” Sadare said.



The party, however, lauded Senator Abiola Ajimobi over what it described as the governor’s rare display of tact, vision and competence which made the economy of Oyo State to remain strong despite the threat posed by persistent slash in the statutory allocations coming from the federal government since last year May or there about.



“It can only take a tactful, visionary and pro-active mind to face the challenge of drastic dwindling allocations to a state like Oyo with weak Internally Generated Revenue base to keep the machinery of government afloat. With a paltry sum of N2.9b being received by a governor who is responsible for the monthly payment of N4.95b in overhead cost, the task could be more than daunting.



“This the governor does effortlessly in addition to regular maintenance of environment, security and improvement on social infrastructure without borrowing a dime from anywhere. We wish the previous administrations of Senator Ladoja and Chief Alao-Akala had been judicious with the many cash windfalls which they got while in power and thus lessened the burden on the present government,” The statement added.

Everything for politics. Buhari has to provide his certificate first.

After we can now explain simple economics to the illiterate that the target is to reduce the subsidy cost in this period of reduced revenue driven by falling crude oil prices.

The cost of refined PMS in the international market is still greater than 97 naira and It makes no economic sense maintaining same subsidy cost aimed at reducing prices at the pumps.

As a matter of fact, this is the time to take away subsidy entirely but the gullibility of Nigerians will spell doom for the FG towards 14th Feb if that happens now.

I pray they listen!!. They must be eager now shoveling the oil money with all alacrity because they've got just two months to dust off their a**ses from the power seat.
BTW, what is the latest on the General's certificate, found??

ratiken:
Everything for politics. Buhari has to provide his certificate first.

After that, we can now explain simple economics to the illiterate that the target is to reduce the subsidy cost in this period of reduced revenue

Who's the illiterate? I knw for this is you guys plan. You better get the certificate wherever you've hidden it. We want it back.

ratiken:
Everything for politics. Buhari has to provide his certificate first.

After that, we can now explain simple economics to the illiterate that the target is to reduce the subsidy cost in this period of reduced revenue

keep on dreaming about certificates, I know you guys are afraid of GMB sinice your pay masters will lose come Feb. 14. What was the yardstick for the increment of pump price?

Party of moronz!how can u reduce pump price when the country is struggling to recover from shortfallz in the oil prize.where will u get the fund to fund the subsidy?

For first time i see sense in APC.

Anyway, even a mad man occasionally comes to his senses.

Good one from APC!!!!


Though it's impossible for a leopard to change it skin!!!!

Even if he reduce am to N5


he must out

Buhari will do that soon.

G

mazzi:
Party of moronz!how can u reduce pump price when the country is struggling to recover from shortfallz in the oil prize.where will u get the fund to fund the subsidy?

How can you say our country is struggling to recover from short falls in oil price,yet the ruling party 'dashed' 21 billion to the President, while he is also busy with paying in millions for another aircraft not necessary.

Why do you prefer to suffer while your boss squanders the little you should be given?

mcquin:


How can you say our country is struggling to recover from short falls in oil price,yet the ruling party 'dashed' 21 billion to the President, while he is also busy with paying in millions for another aircraft not necessary.

Why do you prefer to suffer while your boss squanders the little you should be given?

Gbam! !!!

Make una no tel that headless man and his courtesan gf(diezani) to reduce the pump price, pls- he might use that to win some voters to his camp.

mazzi:
Party of moronz!how can u reduce pump price when the country is struggling to recover from shortfallz in the oil prize.where will u get the fund to fund the subsidy?

if you have one quarter of that APC spokeman brain you wont be here on nairaland defending rubbish. What the effect of subsidy on the masses. He increased fuel price from #65 to #97 in tne name of subsidy he and farouk lawal are enjoying. Pls if you like jonathan that shouldnt stop you from criticising some of his policy.