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HomePoliticsPDP says fuel prices hike provocative and extortionate, demands cap at N150/Liter

PDP says fuel prices hike provocative and extortionate, demands cap at N150/Liter

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The main opposition Peoples Democratic Party (PDP) has condemned the All Progressives Congress (APC) administration’s endorsement of the exorbitant N617 per liter fuel price, deeming it an act of extreme insensitivity towards Nigerians.

The party warns that this price hike, amidst an already suffocating economic situation, could potentially lead to serious crises in the country if not addressed.

In a statement signed by the National Publicity Secretary, Debo Ologunagba, the PDP expressed dismay at the government’s failure to stabilize and grow the economy, focusing instead on leaving Nigerians at the mercy of market forces and exploitative cabals.

The party sees this approach as a reflection of a government that lacks accountability to the people.

The PDP raises an alarm over the ill-conceived and hastily implemented policies of the APC, which they claim are pushing Nigeria’s economy towards collapse.

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With the value of the naira plummeting rapidly, businesses shutting down, and citizens losing their livelihoods, the party attributes the dire situation to the APC’s insensitivity, corruption, cluelessness, and inability to manage the nation’s economy effectively.

The current state of affairs is particularly disheartening for Nigerians who had hoped for a better future after the harrowing eight years of the Buhari-led APC administration. The PDP argues that the situation has only worsened, leaving citizens without any signs of hope.

Dismissing the APC’s justification of market forces and comparisons with other countries, the PDP insists that the N617 per liter fuel price is excessive and unjustifiable.

They argue that even without petroleum product subsidies, with proper resource management and investment in refining capacity, fuel should not cost more than N150 per liter in Nigeria.

The party believes that the country possesses the economic potential and prospects that could support this affordable fuel price.

(omayowa@globalfinancialdigest.com; Newsroom: +234 8033 964 138

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