Former Vice President Atiku Abubakar has expressed that he harbors no envy toward President Bola Tinubu, whom he accuses of causing suffering for Nigerians. Atiku, the Peoples Democratic Party (PDP) candidate in the 2023 presidential election, was responding to recent statements from the presidency, which alleged that he was envious of Tinubu. On Sunday, Bayo Onanuga, the president’s special adviser on information and strategy, criticized Abubakar for his consistent disapproval of Tinubu’s economic strategies. Abubakar has frequently condemned Tinubu’s economic measures, describing them as a “collection of policies” lacking clear plans for effective implementation. In a statement released on Monday by Phrank Shaibu, his special assistant on public communication, Abubakar asserted that Tinubu tends to implement policies without adequately considering their potential impact. “On July 8, 2024, Tinubu declared that import duties on essential goods such as food would be suspended for 150 days. Yet, over 120 days have passed without the policy taking effect, while Nigerians continue to suffer from escalating costs, including food inflation, which now exceeds 40 percent, the highest in decades,” the statement noted. The statement continued, “The blatant disregard for government policy by Tinubu’s appointees, coupled with the finance ministry’s failure to issue a gazette even after four months, highlights the ineptitude and lack of seriousness that typifies the Tinubu administration. “Regrettably, instead of prioritizing governance, they focus on attacking opponents—Atiku Abubakar and Peter Obi—while using compromised courts to create discord within the opposition. It’s disgraceful. “Tinubu came to office ill-prepared. He makes decisions first and contemplates the outcomes later. This is evident in the abrupt removal of the petrol subsidy without adequate safety measures. “When he witnessed the resulting impact, he hastily proposed a CNG initiative that neither he nor his ministers have fully embraced, which explains their reluctance to utilize it. The CNG initiative remains stalled due to the absence of necessary gas infrastructure in many states. “It is absurd to suggest that Atiku is envious of Tinubu. Absolutely not—Atiku could never be jealous of Tinubu’s actions that inflict pain on Nigerians. READ ALSO: NAF Airstrikes Free Hostages, Devastate Bandit Camps in Zamfara and Kebbi “Cruelty seems to be the unique trait of Tinubu. No leader who genuinely prioritizes the welfare of Nigerians would covet such an attribute.” Abubakar also highlighted that Nigeria currently has the “worst-performing currency in Africa” and ranks as the fifth-largest economy on the continent, a significant decline from its top position when the All Progressives Congress (APC) took power in 2015.
Former Vice President Atiku Abubakar has voiced strong criticism of President Bola Tinubu, whom he labeled “T-Pain,” alleging that Tinubu unlawfully took the 2023 presidential election. Abubakar contends that the election was “criminally stolen” from him, asserting that the outcome does not reflect the will of the Nigerian people. This statement comes over a year after the Nigerian Supreme Court upheld Tinubu’s victory, confirming him as the legitimate winner of the 2023 presidential election.Abubakar’s response was triggered by remarks from Bayo Onanuga, the spokesperson for President Tinubu, who claimed that the 2023 election results clearly demonstrated that voters had rejected Abubakar. In a post on his official X account (formerly Twitter) on Monday, Abubakar countered these claims, arguing that he did not truly lose the election. Instead, he alleged that electoral misconduct was responsible for the outcome, which he believes has led to an unjust outcome for the Nigerian electorate.“The citizens who voted in the 2023 presidential election know that I did not lose. We’re in this position because the election was criminally stolen from the Nigerian people,” Abubakar said, expressing a belief that the election was manipulated to deny him victory.Beyond election-related grievances, Abubakar extended his critique to Tinubu’s administration, accusing it of operating without a structured or coherent governance strategy. He suggested that Tinubu’s policies are superficial, coining the term “Tea-plan” to imply that the administration’s plans are weak and ineffective. According to Abubakar, such an approach has led to economic distress, which he referred to as “T-pain.”Abubakar stated, “Like many Nigerians, I believe that we’re facing these severe economic challenges because of the Tinubu administration’s hurried rise to power, which lacked any solid, well-thought-out plan.” READ ALSO: Just In: Ekiti Cheif Judge Adeyeye Dies At 64 This statement is the latest in a series of exchanges between Abubakar’s supporters and Tinubu’s administration, highlighting a growing divide over Nigeria’s worsening economic situation. Abubakar and his camp argue that Tinubu’s administration has contributed to economic hardship by failing to develop and implement effective policies to address the nation’s pressing challenges. Meanwhile, Tinubu’s supporters maintain that Abubakar lost the election fairly and claim that his criticisms are rooted in frustration over his defeat.
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The price of fuel from Dangote Refinery was greater than the price of the product from other suppliers as of last week, according to a statement released on Friday by the Independent Petroleum Marketers Association of Nigeria, or IPMAN. In addition to saying that members must feel sorry for Nigerians, IPMAN advised them to move where the prices are lower and they can make money. This was said by IPMAN’s National Assistant Secretary Yakubu Suleiman on Friday during an interview with Arise Television’s Morning Show. Suleiman maintained that Dangote should be revealing the amount he plans to sell his commodity, arguing that worldwide pricing sets the price of petroleum products. “International pricing determines prices,” he stated. Dangote should be stating, “This is the price,” on a daily basis. This product will be sold by me. However, unless he (Dangote) engages the stakeholders, he will not be able to accomplish it. Furthermore, you cannot just state, “Okay, we can only purchase from his own depot.” “IPMAN cannot simply decide to tell its members to go to the Dangote Refinery, buy their products, and then load up.” We can’t just do that. The system in question is deregulated.We must source from places where goods are significantly less expensive. After that, we would advise our members to go load the merchandise in any depot where it is less expensive. Let’s imagine that Dangote sells a product for N1000, while other retailers sell it for N900. We cannot simply state for the sake of saying “All right, go ahead and do it.” We are doing business with Dangote. We don’t make money from it. We have to move where the cost is lower and we can make money. That’s it. “We are in a deregulated economy, but Dangote is like trying to monopolize the whole issue,” the IPMAN scribe continued. Alright. Tell us if the entire system is monopolized. However, we think deregulation is now the norm. Dangote is more expensive than other areas, just like it was last week. Because crude has already begun to decline in price, if you can judge that from the global pricing. READ ALSO: Helicopter Crash Wreckage Discovered, Reports NSIB He gave N995 per liter as of last week, if I recall correctly, and you need to carry your load and cargo. How much are you going to pay? the goods? What additional fees will your depot incur? How much of it will be sent to the depot? We also anticipate that independent marketers will go out and sell it. Can we go sell? Look, we must feel sorry for Nigerians. We love to have you back, Kindly Subscribe to our NewsLetter,
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PMS Price Increased to N1025.00 by NNPC: What This Means for NigeriansIn recent news that has stirred up significant reactions across Nigeria, the Nigerian National Petroleum Corporation (NNPC) has announced a substantial increase in the price of Premium Motor Spirit (PMS), commonly known as petrol. As of the latest update, the price has surged to N1025.00 per liter. This sharp increase marks one of the highest price hikes in the country’s recent history, sparking questions and concerns about the future of fuel prices, economic stability, and the daily lives of Nigerians.Why the Increase?The NNPC attributes this price adjustment to several pressing economic factors, both global and domestic: 1. Global Oil Prices: Oil prices have been volatile, largely due to international conflicts, global energy demands, and OPEC’s regulatory influence. The global oil market’s instability translates to fluctuations in the cost of crude, which affects downstream sectors like PMS production and distribution. 2. Foreign Exchange Rates: With Nigeria’s dependence on imports for refined petroleum products, the strength (or weakness) of the Naira against major currencies significantly affects the landing costs of PMS. Recent devaluations of the Naira have made it more expensive for the NNPC to import and refine fuel. READ ALSO 3. Subsidy Removal: Earlier this year, the federal government officially removed the fuel subsidy, aiming to reduce government spending. This has placed the full weight of fuel costs on consumers, making PMS prices subject to direct market influences without government intervention.Economic Implications of the Price HikeThis sudden spike in PMS prices brings far-reaching implications for the Nigerian economy and everyday life: 1. Inflation: Fuel price hikes often lead to higher transportation costs, which can trigger a ripple effect across various sectors. Increased transportation costs drive up the prices of goods and services, leading to inflation. Nigerians can expect a rise in the cost of essential items, from food to housing. 2. Impact on Small Businesses: Many small and medium enterprises (SMEs) depend on fuel for operations, particularly given the country’s unreliable power supply. Higher PMS costs will increase operational expenses, potentially forcing some businesses to reduce workforce or scale back on production. 3. Transport Sector Strain: The transport sector is likely to feel the immediate effects, as drivers pass the increased fuel costs onto passengers. This will make daily commuting more expensive for millions, straining household budgets. 4. Reduced Purchasing Power: With the general rise in the cost of living, many Nigerians will have less disposable income, affecting spending patterns and quality of life. Lower purchasing power can lead to slower economic growth, as consumer spending is a vital component of economic activity.Potential Responses from the Government and CitizensThe federal government may explore options to cushion the effects of this increase. RELATED NEWS There is talk of possible interventions to support public transport systems, though these discussions are still speculative. Various citizen advocacy groups have also voiced their discontent, demanding government action to prevent further strain on the average Nigerian.ConclusionThe NNPC’s price adjustment reflects the complexities of balancing global economic factors with national stability. As Nigerians navigate the implications of the N1025.00 PMS price, it’s crucial for both the government and private sectors to consider strategies to help citizens manage the increased costs. Whether through alternative energy solutions or economic policies that can stabilize the currency, proactive steps are needed to ensure resilience in the face of these rising challenges.
