Phrank Shaibu, the Special Assistant on Public Communication to former Vice President Atiku Abubakar, has challenged the All Progressives Congress (APC)-led Federal Government to disclose the landing cost of petrol and the pricing template used to maintain petrol prices below N640 per litre.
Shaibu’s statement came in response to a press release by the APC’s National Publicity Secretary, Felix Morka.
He pointed out that the government’s claim of deregulation in the petroleum sector was untrue, as subsidy payments continued. Shaibu emphasized that the Petroleum Industry Act mandated full deregulation, which should exclude price control. He questioned how petrol could be sold below N650 per litre when international crude oil prices were around $94 per barrel, and the exchange rate was approximately N780/$1 on the I&E Window and N1,000/$1 on the parallel market.
Shaibu also highlighted the contradictory actions of the APC-led government, including the sacking and detention of former President Muhammadu Buhari’s appointees. He criticized the government’s inconsistencies in its anti-corruption efforts and questioned the fairness of ministerial appointments made by APC leader Tinubu.
Furthermore, Shaibu called on the APC to focus on governance rather than propaganda, as Nigerians’ patience was wearing thin. He noted the economic challenges faced under the APC’s rule and the loss of Nigeria’s status as the largest oil producer in Africa.
Finally, he suggested that Tinubu should apologize for misleading the public about a proposed meeting with US President Joe Biden and criticized the APC’s handling of the situation, highlighting that the meeting was merely a brief encounter during the G20 summit in India and not a substantial meeting as portrayed.