Criticisms greet new increase in Fuel Price amid Claims, Counter claims by NNPC, PPPRA

Criticisms greet new increase in Fuel Price amid Claims, Counter claims by NNPC, PPPRA
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OVERVIEW OF: Criticisms greet new increase in Fuel Price amid Claims, Counter claims by NNPC, PPPRA

Criticisms Greet New Increase In Fuel Price Amid Claims, Counter Claims By Nnpc, Pppra

Some residents of Ilorin in Kwara State, on Friday, criticized the rationale behind the alleged new pump price of petrol by the Federal government.

The criticisms are coming amidst the claim and counterclaim by the NNPC and the PPPRA on which of the two bodies has the authority to affect the price change of petroleum products in the country.

Recall that the NNPC has denounced the announcement of the fuel pump price increase from N167 to over N200 on Thursday.

Reacting to the development, residents of Ilorin argued that the increase would lead to a general increase in prices of goods and services across the country.

Aside from that, they further argued that transporters will be under pressure to hike the cost of transport fares in the midst of the present harsh economic situation Nigerians are going through.

In his reaction, the State Chairman of the Nigeria Labour Congress, NLC, Comrade Issa Ore, said “We have said that this government is not a sincere government.

“They have increased the petrol pump price more than four times in two months.

” I hope Nigerians will rise up to say a big NO to this,” the NLC chairman declared.

Also reacting, a veteran journalist in Ilorin, Oluwole Oshundeyi, told Our Source that with the pump price of petrol at over N200 per litre, it will certainly translate into spiral inflation in the cost of living.

“Already, Nigerians are on the precipice over incoherent economic policies. Today, you close the border, tomorrow, you open it, one is not sure of what the Federal government is doing on the removal of fuel subsidy. It is a messy situation,” he added.

Oshundeyi described the situation as an irony of life, wondering how the appreciation of prices of crude oil at the international market, which should be a thing of joy, is now a curse to the ordinary innocent Nigerian citizens.

“How do you describe a situation where every rise in crude oil price at the international market, will always result in the increase in the pump price at the local market?” he queried.

Oshundeyi, said Nigerians, particularly at the lowest rungs of the economic ladder are facing a hellish time presently, with poor power supply, poor road network, insecurity issue, with both primary and tertiary health institutions among others begging for attention.

Professor Hassan Salihu of the University of Ilorin, in his reaction simply said,” there is confusion on the matter.”

Our Source, however, reports that while the major marketers have not been supplied with the product at the time of this report, the filling stations owned by independent marketers are having a field day with queues by motorists.

The filling stations are still maintaining the current fuel pump price of N167 or N170.

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