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APC Blasts PDP Over Lack of Moral Authority on Subsidy

Strategic Insights

— 1 min read

The All Progressives Congress (APC) has accused the Peoples Democratic Party (PDP) of lacking moral authority to caution or query President Muhammadu Buhari's administration on subsidy, citing the PDP-led governments' alleged mismanagement of public funds. The APC claimed that four South-south states under the PDP, including Rivers, Delta, Akwa Ibom, and Bayelsa, spent N682.49 billion in 2019 on Federal Allocation but have nothing to show for it. The party also alleged that the PDP governments spent over N5.42 trillion on subsidy between 2006 and 2013, which is 15.57% higher than the 2014 national budget.

Key Takeaways:

  • The APC claims that the PDP-led governments spent over N5.42 trillion on subsidy between 2006 and 2013, with a 15.57% increase compared to the 2014 national budget.
  • In 2019, the four PDP-led states of Rivers, Delta, Akwa Ibom, and Bayelsa spent a combined N682.49 billion on Federal Allocation but have nothing to show for it.
  • Under the PDP government, the number of fuel importers rose from five in 2006 to 140 in 2011, leading to massive corruption.
  • The NNPC under the PDP government failed to remit $20 billion in oil revenues owed to the nation, as confirmed by PwC and Deloitte investigative reports.
  • The APC claims that the PDP has no genuine reason to cry wolf over subsidy under the Buhari administration, given its own track record of mismanagement.
  • The PDP has cautioned the APC against insulting its governors, saying they are the most performing, but the APC has rebutted this claim with evidence suggesting otherwise.

Statistics:

  • N5.42 trillion: Estimated amount spent on subsidy by PDP-led governments between 2006 and 2013.
  • 15.57%: Increase in subsidy expenditure compared to the 2014 national budget.
  • N682.49 billion: Combined Federal Allocation spent by PDP-led states of Rivers, Delta, Akwa Ibom, and Bayelsa in 2019.
  • 60 million barrels: Oil valued stolen under the watch of PDP-controlled NNPC between 2009 and 2012.
  • $20 billion: Estimated oil revenues owed to the nation by NNPC under the PDP government.
  • 2006-2013: Period during which the PDP government allegedly mismanaged public funds.
  • 2019: Year in which the four PDP-led states spent a combined N682.49 billion on Federal Allocation.

Sources:

  • APC Deputy National Publicity Secretary Yekini Nabena
  • Bureau of Statistics
  • PDP spokesman Kola Ologbondiyan
  • PwC and Deloitte investigative reports
  • IMF database
  • Fitch ratings
  • APC statement in Abuja
  • PDP statement in Abuja

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