News

Buhari’s Subsidy Regime, Monumental Fraud -PDP

Published

6 years ago

April 8, 2020

The Peoples Democratic Party (PDP) has described the fuel subsidy regime under the President Muhammadu Buhari-led All Progressives Congress (APC) administration as a monumental fraud and an unpardonable scam against the Nigerian state.
The party stated this, yesterday, in a statement signed by its spokesman, Kola Ologbondoyan, and made available to newsmen in Abuja.
This is even as the party counselled officials of APC-led government to “stop lying to Nigerians and tell the truth of how trillions of naira, claimed to have been paid as a subsidy, was cornered by APC leaders and members of the cabal in the Buhari Presidency.”
The PDP also described last Monday’s declaration by the Nigerian National Petroleum Corporation (NNPC) Group Managing Director, Mele Kyari, that there will be no more subsidy and under-recovery as dramatic.
The statement read in part: “Our party notes that if the Federal Government is running away from its subsidy policy, the substantive Minister of Petroleum Resources, President Buhari or his Minister of State, Timipre Sylva, should muster the courage to announce this to Nigerians through a policy statement.
“Our party holds that this sudden announcement of an end to fuel subsidy and commencement of a deregulation regime of the oil sector is a desperate step by the Buhari administration to stave off an investigation into the siphoning of trillions of naira by APC leaders using phoney subsidy claims.
“The PDP invites Nigerians to note how President Buhari set the stage for unprecedented subsidy looting under his regime.
“It would be recalled that in his bid to smear the PDP, President Buhari, while leading the agitation against the decision by the PDP administration to deregulate the oil sector in 2012, declared that fuel subsidy does not exist. He had called the subsidy regime and its operators a fraud.
“Rather than riding on this declaration on the assumption of office, the Buhari Presidency provided official cover for the cabal and APC leaders to use his ascendancy to power to engage in underhand dealings, plunder our nation’s subsidy resources, pillaged trillions of naira from the oil cashbox, only to now turn around to announce an end to a subsidy, seeing that there is nothing left to steal with the current international price crash.”
While chiding President Buhari for alleged lack of openness in the handling of petroleum subsidy since he assumed power in 2015; the PDP said nothing but an alleged scam on the part of APC leaders was responsible for the first citizen’s inability to speak up on the issue.
“We ask, could this be the reason behind Mr. President’s inability to make any concrete statement on the exposed subsidy scam under his administration in the last five years?
“Could it also be the reason the oil subsidy, which Nigerians where enjoying under the PDP, was adjudged a fraud but suddenly ceased to be a fraud from 2015 till Monday, even when Nigerians no longer enjoyed any benefit from the payout within this period?
“Nigerians now know the reason the APC administration had refused to allow for an independent inquest into the alleged N1.4trillion oil subsidy sleaze through which certain APC leaders were benefiting from alleged N58 hidden toll per litre which Nigerians were forced to bear for years after fuel price was increased by the APC administration from PDP’s subsidized cost of N87 to N145 per litre.
“It is now clear to all why the APC administration had resorted to muddling up oil revenue transactions, refused to open up on federation equity of crude while frustrating free flow of information on product exchange and revenue remittances, and why they have been promoting reports on imaginary pipeline losses as well as other opaque and non-transparent transaction in a sector that is directly under the supervision of Mr. President.
“This is in addition to the over N14trillion stolen through various shady oil subsidy contracts, including the stolen N9trillion detailed by the leaked NNPC memo and the N1.1trillion worth of crude stolen with 18 unregistered vessels linked to APC interests, all of which the Buhari Presidency had refused to investigate despite demands by Nigerians.
“The PDP, therefore, insists that the decision of the APC-led administration to embrace subsidy now that oil price had crashed cannot foreclose the irretrievable demand for a forensic audit of all the fraudulent under-recoveries, through which funds meant for subsidy was diverted to private pockets of APC leaders.
“The PDP is also demanding a forensic audit of over-bloated 60 million litres of petrol that NNPC claimed it was importing under its former GMD, Dr. Maikanti Baru, to justify the fraudulent subsidy payout.
“The PDP urges the National Assembly to stand on the side of Nigerians, expose all those involved, who got what in this huge scam against our nation as well as take steps to recover the over N14trillion stolen by the cabal and certain APC leaders and channel same for the welfare of Nigerians especially at this critical time.”

News

Tinubu Commissions Bayelsa Gas Turbine, Other Projects Today

Published

16 minutes ago

April 10, 2026

The Tide

President Bola Tinubu is expected to inaugurate four legacy projects, including a state-owned gas turbine, during a one-day state visit to Bayelsa State, today.

To this effect, the Bayelsa State Government has declared Friday (today) a work-free day, and ordered the closure of markets ahead of the President’s visit.

The state Commissioner for Information, Orientation and Strategy, Ebiuwou Koku-Obiyai, disclosed this yesterday in Yenagoa, the state capital.

She said, “As we all know that the state is ready and we are ready as a people to receive the father of the nation, our father and leader in the President and Commander-In-Chief of the Armed Forces of the Federal Republic of Nigeria, President Bola Ahmed Tinubu, GCFR, who will be in the state on a one-day visit to inaugurate four legacy projects.

“In view of this, the state government has declared tomorrow, Friday, April 10, 2026, a work-free day to enable workers and other residents of the State to participate in the programmes lined up for the one-day official visit to Bayelsa State.”

According to her, Tinubu is expected to inaugurate key projects during the visit, including a state-owned gas turbine at Opolo-Elebele, a 60-kilometre dual carriageway from Onopa to the LNG axis, and a 630-metre bridge linking Angiama to Oporoma in Southern Ijaw Local Government Area.

Koku-Obiyai urged residents, including traders, to comply with the directive and turn out to welcome the President.

The government said the measures were part of efforts to ensure a smooth and successful visit.

The Tide reports that Bayelsa is the third state President Tinubu will visit for project commissioning in the last one week.

The President was in Ogun State last Saturday to commission the Gateway International Agro-Cargo Airport, Iperu, together with the state’s new airline, Gateway Airline, and its two newly acquired aircraft.

He also inaugurated logistics and trade infrastructure, and launched the Nigeria Customs Service’s N73bn hub that has a residential barracks, training college, warehouse and hospital.

The president also launched mobility, security and agriculture assets, including 1,000 electric motorcycles (EV bikes), and 80 units of security vehicles.

Tinubu was also in Lagos on Wednesday on a two-day state visit to commission key legacy projects of the Governor Babajide Sanwo-Olu administration.

Though represented by the Senate President, Senator Godswill Akpabio, the president inaugurated the newly constructed Ojota-Opebi Link Bridge, Lagos State Geographic Information Service (LAGIS) building, and Lagos Multi-Agency Building in Alausa.

Other notable projects commissioned by the President were Lagos Fresh Food Hub in Abijo, Ajah, Tolu Schools Complex in Ajegunle, and Maracana Stadium, comprising 19 mini-football pitches, built side-by-side in Ajegunle.

News

RSG Seeks Horticulturists’ Partnership To Restore Garden City Status

Published

57 minutes ago

April 10, 2026

The Tide

The Rivers State Government has called for stronger collaboration with horticulturists as part of renewed efforts to restore the aesthetic appeal and environmental quality of Port Harcourt, in line with its urban renewal agenda.

The Commissioner for Urban Development, Sir Amairagha Edward Hart, made the call during an interactive session with private horticulturists and flower dealers at his office in Port Harcourt, recently.

He said the present administration remains committed to reviving the famed Garden City status of the state capital through deliberate policies and strategic partnerships, noting that professionals in horticulture have a key role to play in achieving that vision.

The Commissioner stressed that the state government is placing high premium on environmental sustainability, beautification of public spaces, and the creation of a serene urban atmosphere that reflects global best practices.

The Commissioner urged horticulturists to align their operations with government’s urban development guidelines, adding that their expertise and experience are essential in transforming Port Harcourt into a model city.

According to him, the collaboration will not only enhance the city’s visual appeal but also contribute to improved environmental health and economic opportunities for practitioners in the sector.

He, however, cautioned against practices that undermine urban order, particularly the obstruction of walkways and indiscriminate occupation of public spaces meant for other uses.

Hart emphasized that while the government encourages business growth, such activities must be carried out in a manner that supports urban planning objectives and promotes public convenience.

In a move to further support the sector, he disclosed plans by the Ministry to establish a dedicated “Flower Village” that will serve as a central hub for horticulturists and flower dealers across the state capital.

He explained that the proposed initiative is aimed at restoring sanity to the use of walkways and road corridors, while also creating a structured environment that will enhance business operations and boost revenue generation.

Responding on behalf of the practitioners, Evang. Caroline Nabo highlighted some of the challenges faced by horticulturists, including theft of plants and materials by scavengers and scrap metal dealers.

She appealed to the state government for intervention to safeguard their investments, even as she and other stakeholders commended the Ministry’s proactive steps and pledged their support towards the successful greening and beautification of Port Harcourt.

King Onunwor

News

TUC Demands Subsidy To Cushion Rising Fuel Prices

Published

1 hour ago

April 10, 2026

The Tide

The Trade Union Congress of Nigeria (TUC ) has called on the Federal Government to deploy excess crude oil revenue to subsidise local refineries as a way of cushioning the impact of rising fuel prices on Nigerians.

President of the Congress, Festus Osifo, who made the call during a press briefing in Abuja, yesterday, warned that the price of Premium Motor Spirit could climb to as high as N2,000 per litre if urgent measures are not taken.

Osifo said the persistent increase in the pump price of petrol, driven by global crude oil price volatility and exchange rate challenges, has worsened the economic hardship faced by Nigerian workers.

The TUC leader attributed the surge partly to international developments, including tensions involving the United States, Israel and Iran, which have affected global oil supply dynamics.

Osifo also linked the rising cost of petrol to the depreciation of the naira, warning that the continued weakening of the currency is compounding inflationary pressures and reducing the real value of workers’ earnings.

To address the situation, the TUC president proposed that the government should utilise excess revenue generated when crude oil prices exceed the budget benchmark to support local refining.

He explained that with the 2024 budget benchmarked at $64.85 per barrel, any price above that threshold results in additional revenue shared by the three tiers of government, adding that at least 60 per cent of such excess funds should be channelled into subsidising crude supplied to domestic refineries, including the Dangote Refinery and other modular refineries.

He also urged authorities to take deliberate steps to stabilise the currency, noting that exchange rate stability would significantly reduce the cost of imported energy and other goods.

The TUC said it would formally communicate its proposals to the Federal Government, including the Presidency, with a view to ensuring the prompt implementation of measures to ease the hardship facing Nigerians.

He said, “Today, the cost of petrol is heading towards N2,000 per litre, depending on the part of the country that you are in. It has deeply affected the purchasing power of the salaries that we earn as Nigerian workers.

“Let the government take that excess fund that was never budgeted for, take at least 60 per cent of it, and use it to subsidise the crude being supplied to Dangote Refinery.

“The same should be done for Dangote Refinery and all modular refineries, where crude is supplied to them at that subsidised rate.

“Take the difference from the excess crude revenue, take about 60 per cent of it, and use it to subsidise the price at which crude is supplied to the refinery.

“When you subsidise crude, it cannot be abused because you are subsidising production directly. When that is done, we are going to see an immediate reduction in the price of petroleum products.”