Fuel subsidy not reintroduced ,govt. only interven to ensure price stability — APC

Leyoo Ajeokun

The ruling All Progressives Congress APC said the administration of President Bola Tinubu has not reintroduced fuel subsidy through the back door, as being specluated in some corners, the party disclosed that the government only intervened to ensure some measure of price stability and predictability.


There had been reports that the Administration spent N169.4 in August to keep the fuel pump price at N620.

The opposition has taken it up with the Tinubu administration on the issue, while the APC on Monday night said such humongous payments do not amount to a reintroduction of subsidy.

The ruling party equally flayed Phrank Shaibu, Media Aide to the Presidential Candidate of the Peoples Democratic Party PDP, Alhaji Atiku Abubakar for purveying “fake news” and engaging in “other inanities” just to discredit President Bola Tinubu’s administration.

“Shaibu’s claim that fuel subsidy is back is not correct. Government’s intervention to ensure some measure of price stability and predictability does not amount to return of the ruinous fuel subsidy of recent past”, APC stated.

APC spokesman, Felix Morka in a statement on Monday night said Shaibu “in an unfledged statement…outed himself in his warped and misleading suggestion that the APC-led Administration was hoodwinking Nigerians by propaganda”.

Morka said on Shaibu’s “pathological and cynical flippancy”, he delved into matters he clearly does not understand or lacks the constitutive capacity to understand as a result of post-electoral traumatic stress disorder (PeTSD) arising from his boss’ serial electoral failure.

“Unsurprisingly, Shaibu’s only ‘evidence’ for such an arrant conclusion is that President Bola Ahmed Tinubu has appointed more media aides than economic and security advisers, conveniently glossing over the fact that Mr. President was swift in rejigging the security architecture and repositioning the Armed Forces for optimal performance in defence of lives and property

Certainly, he does not understand the issues and the interplay of statecraft and economic management initiatives by President Tinubu to remove age-old distortions and contradictions, accelerate and solidify all round recovery and prosperity for our country.

That Shaibu described as ‘lies’, the administration’s courageous decisions to remove fuel subsidy, harmonize the foreign exchange regimes and sign into law the Students’ Loan Act, only buttresses his poor understanding of economic development and governance. That the fine details of these visionary and people-centred policies are still being worked out and have yet to run their due course cannot and do not negate their valid objectives and potential transformative impact. The President has dutifully appointed experienced and highly skilled professionals to key institutions of the economy, including the Ministry of Finance, Central Bank of Nigeria CBN, and Federal Inland Revenue Service FIRS and created the Ministry of Marine and Blue Economy in a patriotic zeal to reposition and grow the economy.

“Lifting the Visa ban on Nigerians by the United Arab Emirates UAE authorities should ordinarily make any well-meaning Nigerian happy. Diplomatic rapprochement between Nigeria and UAE authorities is ongoing and details of outcomes will soon be made public.

“The matter of the proposed meeting with United States of America President Joe Biden does not even require elaboration. Having met with President Tinubu on the sidelines of the G-20 Nations summit in India, another meeting with President Biden during the United Nation’s General Assembly UNGA had become unnecessary and was not even on President Tinubu’s schedule, contrary to preliminary indications on the matter”, said the APC spokesman.

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