The All Progressives Congress APC has lent its voice to the federal government’s removal of fuel subsidy, saying, the pump price of fuel would crash within the next three months.
APC said, like the Global System of Mobile telecommunication, GSM, the price of fuel is bound to reduce soon as a result of increased competition. National Chairman of the party, John Odigie-Oyegun stated this on Friday in Abuja during a brief chat with journalists.
“From our point of view as a party, it has become necessary to fully and in order to recover from the economic situation which we have been plunged to totally free the economy and let the normal laws of demand and supply operate. Of course, with government standing by to protect the long suffering Nigerian who is at the margin.
If is unfortunate, it is painful what has happened, it will increase cost in all directions. But in the medium term, in three months at best, I foresee that the prices will come crashing down when there is availability.
NNPC will continue to be in the field anyway either through the refineries whenever our pipelines are allowed to function or through importation and so will continue to be a player in the fuel supply market. Prices are bound to come down. A typical example is what happened when mobile phones were introduced.
I remember that I bought a SIM card for over N30,000, but today, it is virtually free. If we free the fuel market, that same thing will happen which was as a result of competition is likely to happen. “Over time, the subsidy regime has become so intensely manipulated, so abused that it really was no longer operating in the interest of the Nigerian public.
I think that it has become very clear that the kind of queues that has become endemic over several regimes in this nation is a clear indication that something has gone seriously wrong with the subsidy regime. Those who were privileged were exploiting it to amass more wealth. Meanwhile, the people for whom it was basically meant had to bear the cost in higher transport fare.
Each time these queues develop, of course the ordinary Nigerian bears the cost while the importers and manipulators of the system are the ones that makes all the money”, Oyegun said.
The federal government had on Wednesday hiked fuel price to N145 from the earlier price of N86. He added that the current budget did not provide for subsidy and so, “if the region of subsidy is to be reintroduced, it can only divert resources from the crying needs of other sectors, including the programme to help the Nigerians living at the margin”.
“So, the appeal which is a very sincere appeal to the Nigerian people; yes there is a lot of hardship, yes increased pump price will also increase that hardship. But the economy is being freed in a way that the ordinary Nigerian will become the major beneficiary and we are talking of a matter of months from removing this one last bottleneck that has held the Nigerian economy down.
So, it is an appeal and we should watch what happen in the next few months as far as the fuel issue is concerned because I am sure it will come crashing down. In any case, it will free resources eventually that will be used to create good jobs which has been promised and improve the lot of the Nigerians at the margin.
That is the message the party wants to convey. The economy is in bad shape as a result of which our people are going through hard times”, he added. Click to signup for FREE news updates, latest information and hottest gists everyday
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Just like N1 naira is equal to $1 dollar. Liars.political 419 people and party
ReplyDeleteFrom your comments you must be under 12 or just stupid.
DeleteAnonymous 8.17am it looks like you are the stupid one here. What is you opinion on the news articles? Write it rather than abuse others for expressing their views.
DeleteHas APC lost its mind? How can they liken PMS to recharge cards? PMS is a necessity to perform business (otherwise you have to trek from Lagos to Abuja) but no one is forcing anybody to recharge their phones and make long minutes of calls when you can simply text or use whatsapp. Also, the reason why some networks are cheaper than some is simply because they lack the coverage and quality of the other and so they compensate their loyal customers for sticking with them. Does the APC want filling stations to start offering bad fuel to motorist in order to crash the price? APC has got to be the dumbest political party in this nation, and here I was thinking as at this time last year that they might have some brain in their head compared to PDP. If you liken PMS to anything, it might be to clothing. The fact that you get cheap chinese clothes doesn't translate to quality product. If you must get quality long lasting clothes you would have to spend a little more. So do they really want us to put cheap bad fuel in our cars? Or do they want us to drive the car halfway then push the car a little and subsequently trek the remainder of the journey, just like some of us do with our mobile phones by flashing, texting and whatsapping?
ReplyDeleteWill it fall and stabilize at #45/liter that you promised.
ReplyDeleteFull grown Liars/agents of darkness.
We are tired of your vain promises and denial at the end of the day. You promise was to bring pump price of PMS to #45 not increase to #145; now you have failed Nigerians by not fulfilling any of your electoral promises.
ReplyDeleteAPC has brought more than bearable hardship and agony to Nigerians. Nigerians have loss hope in you cos you have failed woefully.
There's no single promise that you pple ve fulfilled...... All lies at every side! People eyes don open now o!
ReplyDeleteUnder normal circumstances,baba oyegun,we could have believed you,but you people are not trustworthy..tomorrow,am very sure you will deny this statement,or your president will say this statement is not his position,but the position of APC...that's what we get when the president's agenda is now different from the APC agenda..
ReplyDeleteI don't get what is happening about fuel price hike and subsidy removal,Lier Moh'd said subsidy removal is not then issue while Oyegun(Oyebend) says subsidy is d issue,pls who do we agree with?how can dis man be comparing sim card with fuel for crying out loud?somebody should wake us up from slumber.
ReplyDelete