Subsidy: PDP asks FG to recover N14 trillion stolen under Buhari administration

…Want to monitor deregulation process

Tunde Opalana, Abuja

The Peoples Democratic Party (PDP) has called on the Federal Government to immediately recover the over N14 trillion exposed to have been stolen in the oil sector in the last five years of the President Muhammadu Buhari – led All Progressives Congress (APC) administration.

It as well denanded the ploughing of same to the development of the oil and gas sector.

The party held that if the stolen N14 trillion, made up of alleged N9 trillion detailed in the leaked NNPC memo as well as alleged diversions of subsidy funds, is recovered and injected into the economy, such will revamp the refineries, push prices further down and create more jobs and employment opportunities for the citizenry.

Nigerians are aware that prior to his emergence as the President, President Muhammadu Buhari had declared fuel subsidy a fraud, but five years after, the government which he heads, watched over a subsidy regime that has been exposed to be replete with corruption.

The national publicity secretary, Kola Olognondiyan stated the position of the party Monday at a press briefing in Abuja.

When adked if the party has proof of its allegation, Ologbondiyan said “what other proof are you looking for outside the memo presented where it was alleged that N9 trillion was stolenn?

*What Nigerians should be pushing for now is for the National Assembly to conduct a public hearing on what has happened to the subsidy since before he came into office, Muhammadu Buhari declared it a fraud. And later went ahead to implement fuel subsidy in the last five years.

” Is he also saying that his government is fraudulent? To enable Nigerians get to the root of this, the National Assembly should constitute an adhoc committee to investigate what has happened to fuel subsidy from 2015 -date.

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“They should also look at the leaked memo because, perhaps, Nigerians have forgotten the issue of the N9trillion contained in the leaked memo in the NNPC. They should conduct a public hearing into that and tell Nigerians the truth whether there was a fraud or not”.

The party insisted that the Federal Government should not use the deregulation process to sweep the issues of overcharge in the pump price of fuel as well as allegations of corruption in its subsidy regime, under the carpet.

The PDP declared its intention ito monitor the deregulation of the downstream sector of the petroleum industry, noting that if market forces are truly allowed to determine the prices of petroleum products, Nigerians will not be buying fuel for a price beyond N70 per liter.

The party assured that it is studying the ongoing procedures by the Federal Government on the deregulation process to ensure that it is not manipulated against the interest of the ordinary Nigerians.

Consequently, the PDP invites the Federal Government to immediately declare and surrender the proceeds of the overcharges on pump price of fuel price since the fall in oil price in the international market and direct such to the benefit of Nigerians.

Ologbondiyan also disclosed that the party has not zoned its presidential slot for the 2023 general election.

He was reacting to a statement credited to Adamu Atiku, son of the former Vice President, Atiku Abubakar, who said his father would contest the 2023 Presidency.

He said “the PDP has not come to discussion in respect of zoning. I want to leave it at that”.