Reintroduction of Fuel Subsidy: APC Breaks Silence

The ruling All Progressives Congress (APC) has refuted claims that President Bola Tinubu’s administration has reintroduced fuel subsidy, silently.

This disclaimer follows reports, noting that the Administration spent N169.4 in August to keep the fuel pump price at N620.

“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.

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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.

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“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,” said the APC spokesman.