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APC Demands Reduction Of Crude Oil Price

APC Demands Reduction Of Crude Oil Price

THE 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 in Ibadan on Sunday by its Director of Publicity and Strategy, Olawale Sadare, the APC recalled that President Goodluck Jonathan and his economic team had arrived at N97 per litre of Premium Motor Spirit 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 PMS, otherwise known as petrol.

Sadare said, “The oil price has fallen by 49 per cent from 2013 prices and Jonathan administration still claimed it spent a whooping N971bn on its voodoo 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 per cent 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 prioritised promotion of corruption and pursuit of parochial interests, we challenge the President and his economic team to be sincere 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.”

The party, however, lauded the Oyo State governor, Abiola Ajimobi, for what it described as the governor’s rare display of competence, which it said made the economy of the state to remain strong despite the threat posed by persistent slash in the statutory allocations coming from the Federal Government.

“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 the environment, security and improvement on social infrastructure without borrowing a dime from anywhere,” the statement added.

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