The ruling All Progressives Congress (APC) on Sunday picked holes in the criticisms of the administration's deregulation of the..
The ruling All Progressives Congress on Sunday picked holes in the criticisms of the administration’s deregulation of the downstream of the oil sector of the economy by the Peoples Democratic Party .Deputy National Publicity Secretary of APC, Yekini Nabena in a statement in Abuja rubbished the PDP attacks on the removal of fuel subsidy and total deregulation of the downstream of the oil sector.
The statement reads in part: “Apart from the fact that the subsidy regime and the Nigerian National Petroleum Corporation have been so transparent under the Buhari led administration unlike under the previous PDP administrations when the same NNPC was accountable to no one to the extent that it owed the government up to the sum of N704 billion for gross violations of the subsidy scheme.”
“To make matters worse, 60 million barrels of oil valued was stolen under the watch of PDP controlled NNPC between 2009 and 2012. The NNPC during the PDP years also failed to remit US$20 billion in oil revenues owed to the nation, which was confirmed by PwC and Deloitte investigative reports. The PDP has no genuine reason to cry wolf or display moral authority over subsidy under the Buhari administration.
It further saif Saudi Arabia has 15 percent tax to GDP while Nigeria has 7.5 percent tax to GDP, Saudi Arabia has $750billion in their foreign reserves while Nigeria has only $36billion.”
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