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As the country mark her 62 Independence Day celebration, the Labour Party (LP) has lamented that Nigerians have nothing to celebrate.
The opposition party in a statement issued on Saturday said the country has been bedeviled with social and economic woes with “a larger part of the over-stressed population are gnashing their teeth as they struggle to exist among various loads of avoidable sufferings.”
The party’s National Publicity Secretary, Comrade Arabambi Abayomi said, “In the last seven years of APC’s government, not a single sector scored any form of improvement but rather it has been solely records of total failure.”
It also accused the governing party of inefficiency and corruption, noting that it has auctioned the country “by its corrupt, inept, terribly inadequate, inefficient and grossly irresponsible governance.”
LP stressed that “In the last seven years of APC’s government, not a single sector scored any form of improvement but rather it has been solely records of total failure.
In Security, Zero. In Education…Zero, Health scored zero. In fact, it is not necessary to keep naming all because there is just no single sector that hasn’t been recording failure.”
“The inadequacies of the APC government reflects in the current harrowing insecurity in the nation and the economy. For instance, the APC has all over its tenure been very busy in raising the bar of corrupt practices in the oil sector under the guise of oil subsidy.
“Again, it is clear that estimation put the equivalent of the volume of gas flared up in the first half of 2022 to carbon dioxide (Co2) emission of 6.7 million tons in the oil producing areas, 4.56 percent higher than the 120. 5 billion Standard Cubic Feet of gas flared in the second half of 2021 and capable of generating 12,600 gigawatts hours of electricity.
“Nigeria is endowed with large oil, gas, hydro and solar resources, and it has the potential to generate 12,522 MW of electric power from existing plants. On most days, however, it is only able to dispatch around 4,000 MW, which is insufficient for a country of over 195 million.”
This is as it emphasized that the federal government’s inability to revamp the country’s refineries has resulted in revenue wastage through gas flaring, and “unverified subsidy on petroleum; adding that “the estimated equivalent of the volume of gas that got fared in the first half of 2022 at 6.7m tons in the oil-producing areas, which is 4.56 % higher than the 120bn SCF of gas flared in the 2nd half of 2021 that is capable of generating 12,600 gigawatts of electricity.”
“On the other hand, the quantity of flared gas in the first six months of 2021 could generate 14,000 gigawatt – hours of electricity and the equivalent of 7.4million tonnes of CO2 emission.
“By official account, the break down of the gas flared in the country in the 1st 6 months of year 2022 , it is disclosed that while companies in the offshore operations flared 62.2 bn Standard Cubic Feet gas , Companies operating on shore flared 63.9 bn SCF of gas , valued at $223.6 million.
“The APC unrepentantly continue to defraud the nation through the same old PDP vague claims of unverified oil subsidy payments.
“The Buhari led APC government lied that Nigeria consumes in every one day 34m liters of petrol as if all indices attached to purchase of PMS are fixed.
“The crying question is, is it possible for a 70ltrs private car that has been fully filled up at a petrol station to again buy another 70 litres of petrol the second day?
“Again , another ugliness is the quantity of crude oil exported to be refined against the quantity brought back that informed the corrupt and fraudulent oil subsidy claims over the years.
“Nigeria lost N81bn to gas flaring in 18 months as supplied by the data from the Nigerian Oil Spill Monitor, an official arm of the Nigerian Oil Spill Detection and Response Agency NOSDRA released a few days ago. The quoted data revealed that the Country lost a total of N707bn in 2021 and N184 bn in the first half of this year totalling N891bn.
“According to the same NOSDRA report , oil and gas Companies that are operating in the Country flared a total of 126 bn Standard Cubic feet of gas in the first half of 2022 Leading to a loss of $442.2 m (N183.54 bn) in the six months.
“In 2021 about 23, 862, 271 barrels of oil (3, 770, 238, 864 liters/119 tanker truck loads were spilled. The Brent was sold Internationally for an average of $71 per barrel in 2021 bringing total revenue loss in that year to $1.7bn
ASUU, the legal body of the University Lecturers across the Nation has been on strike for close to 8 months and are still on strike . The loss of relevance of the APC in the Government under its rule is monstrous,” he stated.
The opposition party therefore called on Nigerians to vote for it in order to bring good governance and a better living standard for the people.
