The All Progressives Congress (APC) has refuted claims that President Bola Tinubu’s administration reintroduced fuel subsidy, stating that government intervention aims to stabilize and predict fuel prices.
Reports had surfaced indicating that the administration spent N169.4 billion in August to maintain the fuel pump price at N620.
While opposition parties seized on this revelation to criticize the Tinubu administration, the APC argued that these payments do not signify a return to subsidy.
The ruling party also condemned Phrank Shaibu, Media Aide to the PDP Presidential Candidate, Alhaji Atiku Abubakar, for spreading “fake news” and engaging in other efforts to discredit President Bola Tinubu’s administration.
The APC clarified that the government’s intervention in fuel pricing aims to ensure some level of price stability and predictability, which is different from the past fuel subsidy regime.
Felix Morka, the APC spokesman, accused Shaibu of making misleading statements and not understanding key economic and governance issues.
He attributed Shaibu’s comments to “post-electoral traumatic stress disorder” resulting from his boss’ electoral defeats.
Morka defended President Tinubu’s economic policies, emphasizing that they aim to remove long-standing distortions, accelerate economic recovery, and promote prosperity for Nigeria.
He highlighted the President’s appointments of experienced professionals in key economic institutions and the government’s initiatives in various sectors.
Morka also addressed diplomatic issues, including the Visa ban on Nigerians by the UAE authorities, diplomatic rapprochement with UAE authorities, and President Tinubu’s interactions with other world leaders, such as President Joe Biden.
In summary, the APC rejected claims of a fuel subsidy reintroduction, criticized PDP’s allegations, and defended President Tinubu’s economic policies and diplomatic initiatives.