Yekini Nabena faults PDP’s promise to reduce petrol price to N87 per litre

A chieftain of the All Progressives Congress (APC), Mr. Yekini Nabena, has faulted the claim by the opposition Peoples Democratic Party (PDP) that it is capable of pegging the price of a litre of fuel at N87 as against the prevailing N145.

Nabena, in a statement, described the claim as a cheap political gist designed to hoodwink unsuspecting voters ahead of the 2019 election.

According to him, the claim by the PDP clearly indicates that the party is keen on reintroducing the regime of fuel subsidy in the country.

Nabena said that a perusal of well- entrenched and verifiable market fundamentals clearly indicated that the promise was virtually anchored on fiction and limited knowledge of the petroleum industry.

“The fact, as we speak, is that at a petrol cost under recovery fluctuating between N60 and N70 per litre propelled by vaunting crude oil price of around $81 per barrel, the only way the bogus promise could be possible albeit unreasonably, is through the re-introduction of the PDP styled subsidy payment schism which almost bled the nation to death.

“It is shocking to note that at a period when the nation is looking ahead to embrace the eventual deregulation of the downstream sub-sector of the oil and gas industry to allow for equitable private sector participation and break the seeming NNPC monopoly of fuel importation, the PDP is plotting a reversal of the spiraling wheel of progress.

“No doubt, if the PDP had been clairvoyant enough in its long years of rulership to fix the local refineries and make them work for the benefit of Nigerians, the country would have reaped bountifully from the gains of higher price of crude oil while optimizing the benefits that comes with local processing of its God-given natural resource.”

Nabena alleged that there is more to the recent parley between the PDP presidential candidate, Alhaji Atiku Abubakar; his running mate, Mr. Peter Obi; Senate President, Dr. Bukola Saraki and the party’s national chairman, Uche Secondus in Dubai than meet the eye.

“Our intelligence, anti-graft and security agencies must be awake to its responsibility of investigating the Dubai meeting. Cash and carry politicians must be prevented from moving illicit cash around to induce voters and sponsor election violence and rigging.

“ Again, relevant agencies must check suspicious movement of cash both locally and internationally by politically exposed persons under the guise of a “Dubai meeting” or any clandestine meeting.”