Lagos PDP Faults Tinubu Government’s Fuel Price Reduction, Demands Transparency

Lagos PDP Faults Tinubu Government’s Fuel Price Reduction, Demands Transparency

By Our Reporter

The Lagos State chapter of the Peoples Democratic Party (PDP) has criticised the Federal Government’s announced petrol price reduction, describing it as an insult to suffering Nigerians and, therefore, demanded full disclosure of the costs and arrangements behind the intervention.

The party further called on President Bola Tinubu’s administration to explain the actual value of the proposed 30-day fuel price discount, who would finance it and what measures would be put in place after the intervention expires.

The Lagos PDP made the demands in a statement signed by its Publicity Secretary, Prince Dr. Christopher Odianarewo, copy of which was made available to newsmen on Friday, describing the government’s initiative as a policy gimmick, while accusing the All Progressives Congress (APC)-led administration of engaging in what it termed economic gaslighting.

Recalled that the Federal Government had announced that the Nigerian National Petroleum Company Limited (NNPC) would sell petrol at a cost for 30 days, while it also outlined plans for forward sales of crude oil to domestic refineries and proposed a N1,350-per-litre ceiling on ex-gantry and landing costs.

However, the opposition party questioned the transparency and sustainability of the measures, insisting that Nigerians deserved clear explanations of how the proposed price reduction would be achieved.

“The Lagos PDP demands to know: What is the exact value of the discount, who is financing it, and what happens after the 30 days?” the statement said.

The party also demanded full disclosure of the price at which Nigerian crude oil was being supplied to domestic refineries, arguing that local consumers should not continue to bear the burden of international dollar-denominated pricing and exchange-rate fluctuations when the country produces crude oil.

According to the PDP, the growing exposure of domestic petrol prices to foreign exchange movements was particularly troubling because most Nigerians earn their incomes in naira.

It further said the Dangote Refinery’s move to dollar-based petrol pricing had heightened concerns about the relationship between domestic crude oil supplies and the prices Nigerians pay for refined petroleum products.

“If domestic crude is available, government must explain why Nigerian consumers are still exposed to international dollar pricing and exchange rate volatility,” the party stated.

To address what it described as a lack of transparency, the Lagos PDP called for the immediate publication of four key details concerning the government’s intervention.

These include the exact discount per litre under the 30-day arrangement, the actual price of Nigerian crude supplied to local refineries, the calculations underpinning the proposed N1,350-per-litre ceiling and the government’s plan for consumers when the temporary measure expires.

The party maintained that Nigerians needed more than temporary announcements, arguing that sustainable relief, transparent pricing and accountability were essential to addressing the country’s fuel affordability challenges.

It urged the Federal Government to make the relevant figures public and explain the financial implications of its intervention for both the government and consumers.

“Nigerians do not need temporary headlines, they need sustainable relief, transparent pricing and accountability,” the statement added.

The Lagos PDP said the government must ultimately clarify who bears the cost of the intervention, who benefits from it and what tangible relief ordinary Nigerians would receive from the announced measures.