APC, PDP Engage in War of Words Over Fuel Subsidy Removal

Strategic Insights -

The APC has claimed that the PDP lacks the moral right to caution the Buhari administration over the removal of fuel subsidy and subsequent increase in fuel pump price to N161 per litre. The APC counter-accused the PDP of corruption and mismanagement of the subsidy scheme during its previous administrations. The APC claimed that under the PDP, the NNPC owed the government up to N704 billion for gross violations of the subsidy scheme, while over N5.42 trillion was spent on subsidy between 2006 and 2013. The PDP, however, fired back, saying that it had managed the country's resources effectively between 2006 and 2013, growing the economy and reducing debt, with the help of Fitch and IMF data.

Key Takeaways:

  • The APC has accused the PDP of lacking moral authority to criticize the Buhari administration over fuel subsidy removal, citing the party's alleged corruption and mismanagement during its previous administrations.
  • The APC claimed that over N5.42 trillion was spent on subsidy between 2006 and 2013, and that the NNPC owed the government up to N704 billion for gross violations of the scheme.
  • The PDP, however, accused the APC of sending "impostors and charlatans" to insult the party, and argued that it had managed the country's resources effectively, growing the economy and reducing debt.
  • The PDP cited Fitch and IMF data to support its claims, stating that the country's economy was one of the fastest growing in the world during its administration.
  • The PDP also accused the APC of resorting to diversionary tactics instead of addressing the real issues of corruption in oil revenue management and high fuel prices.

Statistics:

  • Over N5.42 trillion was spent on fuel subsidy between 2006 and 2013 under the PDP administration. (Source: APC)
  • The NNPC owed the government up to N704 billion for gross violations of the subsidy scheme during the PDP administration. (Source: APC)
  • The country's economy was one of the fastest growing in the world between 2006 and 2013, according to Fitch and IMF data. (Source: PDP)
  • The PDP administration reduced the country's budget deficits by 72% between 2006 and 2013. (Source: PDP)
  • The country's GDP doubled within four years from $55.65 billion in 2003 to $114.36 billion in 2006, according to IMF data. (Source: PDP)

Sources:

  • APC (statement by Yekini Nabena, Deputy National Publicity Secretary)
  • PDP (statement by Kola Ologbondiyan, National Publicity Secretary)
  • Daily Trust (2020)
  • AllAfrica Global Media (allAfrica.com)