Fuel price
EKO HOT BLOG reports that the main opposition party, the Peoples Democratic Party (PDP), has addressed President Bola Ahmed Tinubu in a statement issued on Wednesday following the recent increase in the pump price of petrol/fuel.
This online media platform gathered that the Nigerian National Petroleum Company Limited (NNPCL) announced a new hike in the pump price of petrol on Tuesday, July 19, 2023.
This is the second increase to the price of the product since President Tinubu announced the removal of the fuel subsidy on May 29th when he was inaugurated into office.
The latest increase, however, last left Nigerians in lamentation as the fuel, which was pegged at N530 last month is now sold at NNPC stations at N617 while other marketers sell at even higher prices depending on location.
Reacting in a statement issued on Wednesday (today) through its spokesperson, Debo Ologunagba, PDP said the price of fuel should not be more than N150 per litre.
The opposition maintained that the increased rate was a maladministration by Tinubu’s government that has shown extreme insensitivity and callousness towards Nigerians.
PDP accused the All Progressives Congress (APC) administration of further worsening the already suffocating economic situation by the previous administration under former President Muhammadu Buhari.
It warned that the latest development is capable of triggering a very serious crisis in the country if not abated.
Ologunagba said it is appalling that instead of seeking ways to stabilize and grow the economy, the APC administration has abandoned the welfare of Nigerians which is the primary purpose of Government under Section 14 (2)(b) of the Constitution of the Federal Republic of Nigeria, 1999 (as amended) and left the citizens to the vagaries of market forces and exploitative cabal; a disposition that is characteristic of a government that is not accountable to the people.
The statement added: “The PDP is alarmed that with its ill-thought out, badly planned and hurriedly-executed policies, the APC is running Nigeria’s economy aground with the value of naira rapidly plummeting, businesses and production shutting down; citizens losing their means of livelihood, commercial and social activities crippled, with millions of families no longer able to afford their daily needs as the costs of food, medication and other essential goods and services continue to skyrocket.
“The present dire situation comes as a consequence of APC’s insensitivity, seething corruption, scandalous cluelessness and lack of capacity to effectively steady and manage the nation’s economy.
“Our Party insists that the N617 per litre of fuel is excessive, unacceptable and cannot be justified under any guise. This is especially given the economic potential and prospects within our country.
“Even with the removal of subsidy on petroleum products, the PDP maintains that with a deft, transparent and innovative management of resources, economic potentials, national comparative advantage and expanded value chain in refining capacity, fuel should not sell for more than N150 per litre in Nigeria.”
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