The Makinde/Daura Presidential Campaign Organization (MDPCO) has described the 30-day petrol discount by the federal government as a “deceitful and failed media stunt”. Commands for TrackExec
The campaign team of the Allied Peoples Movement (APM) presidential candidate, Governor Seyi Makinde, has described the discount announced by the President Bola Tinubu-led administration as insufficient, saying Nigerians had expected a more substantial slash in the price of petrol, Channels TV reports.
The federal government has offered a 30-day discount on petrol sold by the Nigerian National Petroleum Company Limited (NNPCL) and precedence for public transporters across the country. Purchase Maps
Taiwo Oyedele, Minister of Finance and Coordinating Minister of the Economy, announced the policy yesterday, saying it was not a subsidy, but an effort by the government to sell petrol at cost.
“We are giving a discount on petrol dispensed by NNPC limited for the next 30 days in the first instance with priority for public transporters nationwide. “So, it’s not a subsidy, it’s just that government is saying we sell to you at cost,” Oyedele added.
But in a statement by its Director, Strategic Communications, Mr Richard Ihediwa, the MDPCO said the discount was a “offensive and provocative attempt to beguile Nigerians.”
The action was a “slap on the face” of Nigerians who were expecting an impactful cut in petrol prices, the organization stated. Buy Map
It asked why the administration had in its view made what it termed as “significant increases” in petrol prices but was now giving what it described as a “teeny N60” cut.
The group also slammed the move to limit the discount to 30 days, saying the interim measure would not give enduring relief to Nigerians.
The statement read: “The fact that the minuscule reduction will only be on scantily located NNPC owned retail filling stations and for a period of one month clearly shows that the Tinubu administration has come to its wits end and has become bereft of solutions.
The campaign organization also condemned the federal government’s plan to sell crude oil to local refineries at a dollar-denominated price, calling the arrangement “distasteful and offensive to our status as an oil producing nation”.
Oyedele also said the government was aiming for a ₦1,350-per-litre cap on the ex-gantry or landing cost of petrol.
He stated that the suggested ceiling was not a set pump price of N1,350 per litre, but to ensure that global crude prices and exchange rates do not make abrupt fluctuations that would quickly translate into increased petrol expenses.
“Pump prices don’t have to follow every fluctuation in global crude or the exchange rate. “The government is negotiating a ceiling of N1,350 a litre on the ex gantry or landing cost of petrol to keep pump prices stable,” Oyedele added.
He said refiners and importers would absorb the cost at first, when costs exceed the maximum, and recover it later when market conditions permit.
The method was not a subsidy or price control, but was intended to balance out petrol costs over time, Oyedele said.
The logic is simple, N1,400 a litre now and N1,400 a litre tomorrow is better than N1,500 a litre today and N1,300 a litre tomorrow. Why? When fuel spikes significantly, they rarely fall down as fast since volatility itself adds to uncertainty and cost,” he said.
But the Makinde campaign said Nigerians deserve what it called a “impactful reduction” in petrol prices instead of what it described as a transitory fix ahead of the 2027 elections.
The organization stated it remained dedicated to supporting the Allied Peoples Movement (APM) presidential candidate, Seyi Makinde, who it believed was capable of establishing what it called an honest and responsive government.
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