During the 2015 elections, President Muhammad Buhari promised to regulate the price of oil in the international market. The crude oil price had taken a hit as a supply glut and global economic downturn set in, however in recent weeks, the price of oil has seen a steady increase, currently trading at over $40.
Chairman of the All Progressives Congress, John Oyegun believes that the increase in crude oil price is as a result of President Buhari’s lobbying and not just a result of supply and demand forces.
Odigie-Oyegun said this while briefing newsmen after the APC’s National Executive Council (NEC), meeting in Abuja on Thursday
“Naturally, this would have been the time to roll out the drums and to celebrate loudly but I think that being a government and a party that is responsive, we are very well aware of the hardships in the land.
“For that reason, it should be a period of introspection, a period for memories and a period for reminiscences.
“The problems we have are well known, of course originating from two well known factors: our squandered patrimony of course, and the unfortunate coincidence of the collapse of the price of crude oil.
“Nevertheless, in spite of these hardships, our government has recorded strides that are worth mentioning, that are worth celebrating and that are worth noting’’, he said.
He listed some of the strides as Buhari’s focused, vigorous leadership against insurgency, the Treasury Single Account, and the oil market.
“The price of crude is gradually beginning to crawl persistently, slowly but upwards.
“The fight against corruption: the gains are clear; the era of impunity is beginning to disappear from our land.
“Even from reading the papers, social media – critical as they may be – virtually every Nigerian accepts that corruption was perhaps the worst affliction that this nation has ever suffered from.
“Finally, the cost of governance is down. So, even with the lean resources, it is clear that all over the nation, from the federal level to the state level, we will be able to do more with less.’’