PRP to FG: Probe subsidy fraud, recover foreign exchange round-tripping

PRP to FG: Probe subsidy fraud, recover foreign exchange round-tripping
By NEXTER
The Peoples Redemption Party (PRP) has repeated the demand it once made to former President Muhammad Buhari to incumbent President Bola Tinubu to probe the fraud in the petroleum subsidies.
The Party in a statement signed by its National Chairman, Falalu Bello released on Tuesday, also asked the Federal Government to “recover foreign exchange round-tripping, investigate and retrieve funds from users of $1 million and above engaged in currency manipulation.
The PRP also demanded that the FG should address what it described as “structural corruption” and tackle systemic corruption, including bribery, patronage, graft, embezzlement, and particularly the padding of budgets and overpricing of government contracts.
“We also ask President Tinubu to “examine electricity tariffs, reassess the current electricity tariff regime to ensure a fair system that protects the poor and preserves the middle class from further economic disintegration,” the stamen said.
According to the statement, the FG should practicalise the Compressed Natural Gas (CNG) initiative to offer a sustainable energy solution as well as “substantially reduce borrowing rates from the current 38 per cent per annum to no more than 20 per cent, echoing levels seen prior to the current administration.
“It is imperative that we act swiftly. Our nation is at a critical juncture, with time running out for meaningful intervention. Mr. President, it is time to act decisively for the sake of the nation’s future. Let us rescue our people from the grip of despair so that you may indeed dance before the music comes to an end,” Bello said.
The PRP frowned at the recent comments by key figures within President Tinubu’s administration and members of the Bretton Woods Institutions—the IMF and World Bank on currency devaluation and removal of subsidies, saying they have caused significant hardships for the Nigerian population.
The statement said “Vice President Kashim Shettima’s assertion that there are no alternatives to these harmful policies stands in stark contradiction to the basic tenets of economics, which clearly advocate for the exploration of alternatives in addressing socio-economic challenges.
“Such statements, especially from someone of his status in the current administration, are not only misleading but also indicative of a severe disconnect from the realities faced by ordinary Nigerians today.
“The population has been urged to endure these difficult times with the promise of relief on the horizon. However, we see no tangible evidence of this assurance in the actions of President Tinubu, his cabinet, or the broader government apparatus. Instead, we witness a continuation of profligate lifestyles, excessive spending, and the dissemination of dubious economic statistics that do little to alleviate the suffering of the Nigerian populace.
“We in the PRP firmly believe that there are viable and humane alternatives that can steer our nation towards sustainable economic recovery. Even recent reports from the Bretton Woods Institutions indicate an increase in poverty levels, underscoring the detrimental impact of poorly advised policies.
“We strongly urge President Tinubu to recalibrate his approach, implement a governance framework that prioritizes the welfare of citizens, and embrace homegrown policies that reflect the realities of our people rather than succumbing to externally imposed, anti-people measures that stifle progress.”