Home News Fuel Scarcity Caused by FG’s Fraud – APC

Fuel Scarcity Caused by FG’s Fraud – APC

0

The All Progressives Congress (APC) has reacted to the allegation by Director of Media and Publicity, Presidential Campaign Organisation, Mr. Femi Fani Kayode that the party was responsible for the fuel scarcity being experienced in parts of the country.

A statement issued in Dubai on Tuesday by its National Publicity Secretary, Alhaji Lai Mohammed, said the PDP and the Jonathan administration decided to divert attention from the real issues by accusing the opposition of being responsible for the scarcity.

According to the party, Coordinating Minister of the Economy and Finance Minister Ngozi Okonjo-Iweala had, in February, promised to pay all subsidies owed to the marketers then in the sum of N264 billion, along with the accrued interest. APC said, however, that the failure to meet this obligation has made it impossible for the oil marketers, who are being owed heavily, to finance another round of products importation.

“The truth is that this profligate government has run Nigeria aground, and the oil sector, whether upstream or downstream, has particularly suffered hugely. The quantity of petroleum products that was imported has almost been fully consumed, without fresh products being brought in to augment supplies that have now fallen well below re-order level

It said the fuel crisis would not have reached the stage it is in now had the $12 billion domestic gas project fund not been allegedly looted.

This is because, with the project being executed, many vehicles, cooking stoves and generators would have been converted to use gas to reduce the importation of PMS, diesel and kerosene, and gas would have been available to fire the gas turbines at power stations while more power
would have been delivered to the national grid.
The APC accused President Jonathan of sabotaging the domestic gas project started by the late President Umaru Musa Yar’Adua, with the $12 billion cash call provisions for gas development for domestic power generation looted.

“Late President Yar’Adua made the first allocation of $1.5 billion for this project in 2009. The amount was not spent at the time of his death in 2010. However, direct outlays through annual cash calls continued to be credited to the project account so much so that by December 2014, $12 billion had been accumulated in the same account.

“Had this project been successfully implemented as envisaged, had the funds made available for the project not been looted by the rapacious cabal that is holding Nigeria by the jugular, power generation would have improved with uninterrupted gas supply to power the turbines at power station, while the domestic consumption of PMS, diesel and kerosene would have reduced, with an increasing number of vehicles, cooking stoves and power generators being converted to use gas instead of PMS, diesel or kerosene,” the party said.

 

 

nigeria_news_access_bank_online

Like and Share this:

ADD YOUR COMMENT

Please enter your comment!
Please enter your name here