***Makinde, Adebayo react

By Nkem Okereh 

The opposition political parties have criticised president Bola Tinubu and his ruling All progressives Congress (APC) over the decision to enforce reduction of petrol price accross the country for a period on one month 

The federal government, which announced the fuel reduction package through the Minister of Finance and Coordinating Minister of the economy, Tunde Oyedele on Thursday, said the major beneficiaries would be transporters and commercial vehicles operators, saying the package is aimed at reducing the high transportation fares in the country 

Oyedele, said the measure was not a return to subsidy, but an arrangement for NNPC to sell petrol at cost for the initial 30-day period.

Reacting to the federal government’s package, the Makinde/Daura Presidential Campaign Organisation (MDPCO) of the Allied People’s Movement (APM), described the government’s 60 Naira fuel discount package as a “deceitful” political stunt that is  aimed at hoodwinking Nigerians ahead of the 2027 elections.

The campaign organisation, in a statement issued on Thursday by its Director of Strategic Communications, Richard Ihediwa, said reducing the pump price of petrol from about N1,400 by just N60 was an insult to Nigerians struggling with the impact of the fuel price regime.

The campaign also criticised the government’s offer to sell crude oil to domestic refineries at $80 per barrel, describing the arrangement as “distasteful and offensive” for an oil-producing country.

“Nigerians cannot be swayed by this act of deceit and failed media stunt to change their resolve to vote out the dishonest, insensitive and grossly inept Tinubu-led APC administration in January 2027,” the campaign council noted 

The council argued that Nigerians deserve an “impactful reduction” in petrol prices rather than what it called an attempt to “hoodwink citizens” ahead of the elections.

The Allied Peoples Movement (APM) urged voters to back the party’s presidential candidate, Seyi Makinde for what it described as an honest, resourceful and responsive government.

Also the Social Democratic Party (SDP) presidential candidate Prince Adewole Adebayo likened the 30-day petrol discount by the federal governments to the popular television series “Fuji House of Commotion.”

Adebayo, who reacted during an interview on Channels Television’s Politics Today, Adebayo questioned the basis and duration of the intervention, describing it as a temporary gesture rather than a long-term policy.

“I saw the visual and heard of the policy or statement; I don’t know. There is no plan behind it, so I cannot know whether it is a policy or a gesture, but it immediately reminds me of a series on television in the 90s called ‘Fuji House of Commotion.

“One thing they are presenting is Tinubu’s house of commotion. It does not make any sense in any way.

“Number one, none of those people who are seated there represent the NNPC. Now, there is no account established in the Ministry of Finance that deals with the petroleum subsidy account.

“One month is not short term; it is not medium term; it is not long term; it is a flash in the moment.

“They did not refer to any law that authorises them to do what they are doing.

“So, long and short, it looks to me like the government is genuinely now and sincerely confused because they have created problems for themselves.”

“This is not subsidy, FG says 30 days petrol price reduction, not subsidy return

The Federal Government dismissed  opposition claims that it has softly returned the painful petrol subsidy, through the announcement of an agreement with the Nigeria National Petroleum Company Limited (NNPCL) to sale petrol at a N60 reduction price for a period of 30 days

The presidency  in a statement issued on Thursday by the Special Assistant to the president on Information and Strategy, Bayo Onanuga, said the Nigerian National Petroleum Company Limited will forgo its retail profit margin on petrol and sell to Nigerians at cost, as part of measures to cushion households from global crude oil price shocks.

The statement however emphasised that the arrangement, which is backed by President Bola Tinubu, does not signal the return of the petrol subsidy, which ended on May 29, 2023.

It explained that the petrol price slash was among a raft of measures announced by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, on Thursday.

The statement noted that ‘NNPC retail outlets would forgoe petrol profit margin to offer some support to Nigerian households amid global petrol crisis; FG announces additional measures.’

“This means if NNPC’s landing cost is N1300, it will sell fuel to Nigerians, especially commercial vehicles, at the same price,” the statement read.

The Presidency said the federal government was also negotiating a ceiling of N1,350 per litre on the ex-gantry or landing cost of petrol to keep pump prices stab

“This is neither a subsidy nor a price control: it is designed to smooth prices over time rather than suppressing them,” Oyedele was quoted as saying, adding, “The reasoning is simple. 1,400 naira a litre today and 1,400 tomorrow is better than 1,500 today and 1,300 tomorrow, because volatility itself adds to uncertainty and cost. And when fares rise sharply, they rarely fall as fast. The ceiling will be reviewed monthly, reset as costs require, and the figures published for transparency.”

It stated by further that the federal government will also sell crude forward to domestic refineries. According to the statement, this is expected to shield pump prices from global volatility as production rises and previously committed crude is freed up.

The statement noted that under the 2025 tax reform laws, the Federal Government, working with the states and security agencies, was reining in the collection of road taxes and levies that inflate fares and logistics costs. It is also increasing funding for cash transfers to the most vulnerable households and for subsidised credit to small businesses and consumers.

The other measures listed include the CNG rollout, where the FG is scaling up compressed natural gas deployment with the states, and expects transporters to pass on the savings to passengers through lower fares. CNG is 60 to 70 per cent cheaper than petrol, the statement said.

It said excess profit tax will be considered for operators who take undue advantage of consumers anywhere along the ener

Proceeds will be used only to cushion fuel prices through transport support or vouchers for urban minimum-wage earners. The government will also work with the National Assembly on enhanced tax relief for low-income earners under the 2027 Finance Bill.

“This was not a subsidy and did not fix prices, but secured supply and would deter artificial scarcity and market manipulation.

“Removing the fuel subsidy came at a price. But the alternative has been tried. Nigeria has already lived through that cycle: scarcity, smuggling, a collapsing currency and a fiscal crisis. We cannot afford to live through it again, least of all in response to a temporary disruption, and at the very moment the results of reform are gathering pace.

“Government is not out to reverse a necessary reform designed to set our country on the path towards sustained prosperity. It is to ensure its gains reach more Nigerians, faster and in more tangible ways. That is our work, and we are committed to doing it.”