Plans are underway by the federal government (FG) of Nigeria, to hike fuel price. Chief Timipre Sylva, Minister of State Petroleum Resources notified Nigerians to be ready to embrace the new petrol pump price following increase of crude oil above $60 per barrel.
The Minister made a firm stand that increase was necessary; saying increase in crude oil has improved government revenue. Money released there from, would not be used for subsidy payment, he stated.
During the official launch of the upstream cost optimization programme on Monday, Sylva said, “NNPC cannot bear the cost of under recovery, since there is no provision of subsidy in the 2021 budget.
“As a country, let us take the benefit of the higher crude oil prices and I hope we will also be ready to take a little pain on the side of higher product of price.”
Obinwannem News had reported the start of this situation where the country’s marketing officials said With increase in crude oil price, petrol price may hit ₦190
Reacting to this development, president of Labor Congress NLC, Ayuba Wabba, warned that Nigerians and businessmen would not be ready for another increase in fuel price, with the recent hardship.
He said, “I am not sure Nigerians would be ready to bear any more pain at this time, because of the fact that a lot of factors have affected the economic social and even the well being of Nigerians”.
“So any additional pain at this point on time certainly will not be taken lightly as you are aware. “
Also Reacting, president, Trade Congress of Nigeria, Quadri Olaleye slammed the government for insensitivity to the plight of the masses, for taking quick decision to announce hike of crude oil in the international market, afterward increase in fuel price, without implementing agreement reached with organized labour.
He emphasized on the non functional refineries, and the non-challant attitude of the government to addressing the issue, stating ” this is the reason the country is subject to the volatility and vagaries of the price of crude oil in the international market”.
Executive Director Civil society legislative Advocacy Centre(ISLAC), Awal Musa Rafsanjani, blasted the federal government plans to raise the retail price of fuel, said , despite Nigeria being an oil producting county, the citizens are not benefitting from it’s oil resources, the corruption has crippled growth, and deprived Nigerians of their expectations.
“Why is it that, if oil is cheap in the global market , Nigerians do not enjoy any drop in the price of the refined petrol, that is to tell you something is fishy about the planned hike,” Awal said.
However, Mr Rapheal Adebayo, Free Nigeria Movement urged the federal government to seek ways to cushion the effect of the rise in global oil price, rather than impose austerity on the people.
Ijeoma Njoku reporting, Obinwannem News
