APC Accuses PDP of Short-Changing Nigerians, Cites Transparency Under Buhari Administration

Strategic Insights -

The All Progressives Congress (APC) has accused the Peoples Democratic Party (PDP) of short-changing Nigerians through its fuel subsidy regime when it held power. The APC's Deputy National Publicity Secretary, Yekini Nabena, in a statement, criticized the PDP's spokesman, Kola Ologbondiyan, for failing to provide a proper analysis of the deregulation scheme in Nigeria and Saudi Arabia. Nabena pointed out that under the PDP administration, the Nigerian National Petroleum Corporation (NNPC) owed the government up to N704 billion for gross violations of the subsidy scheme.

Key Takeaways:

  • The APC accuses the PDP of short-changing Nigerians through its fuel subsidy regime when it held power.
  • The APC cites transparency under the Buhari administration, stating that the NNPC is accountable to the government unlike under PDP administrations.
  • Between 2006 and 2013, PDP administrations spent over N5.42 trillion on subsidy, which is 15.57% higher than the 2014 national budget of N4.69 trillion.
  • The number of fuel importers rose from 5 in 2006 to 10 in 2007, 19 in 2008, and spiked up to 140 in 2011, leading to corruption and embezzlement.
  • 60 million barrels of oil valued was stolen under the watch of PDP-controlled NNPC between 2009 and 2012.
  • The NNPC during the PDP years also failed to remit US$20 billion in oil revenues owed to the nation, confirmed by PwC and Deloitte investigative reports.
  • The PDP has no genuine reason to cry wolf or display moral authority over subsidy under the Buhari administration.
  • In 2019, Del State received the highest federal allocation of N214.4 billion, with Akwa Ibom and Rivers states receiving N169.79 billion and N154.5 billion respectively.

Statistics:

  • Between 2006 and 2013, PDP administrations spent over N5.42 trillion on subsidy.
  • This is 15.57% higher than the 2014 national budget of N4.69 trillion.
  • The number of fuel importers rose from 5 in 2006 to 140 in 2011.
  • 60 million barrels of oil valued was stolen under the watch of PDP-controlled NNPC between 2009 and 2012.
  • The NNPC during the PDP years failed to remit US$20 billion in oil revenues owed to the nation.
  • In 2019, the 36 states of the federation received a total sum of N2.53 trillion as Federal Allocation.
  • Delta State received N214.4 billion, Akwa Ibom received N169.79 billion, and Rivers received N154.5 billion.

Sources:

  • Yekini Nabena, APC Deputy National Publicity Secretary
  • Kola Ologbondiyan, PDP Spokesman
  • Bureau of Statistics
  • PwC and Deloitte investigative reports
  • 2014 national budget
  • NNPC records (2006-2013)
  • Deloitte report (2009-2012)