By Obas Esiedesa
Filling stations have adjusted their pump price to N162 per litre from N148 per litre hours after the Petroleum Products Marketing Company (PPMC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC) informed marketers that the ex-depot price has been increased to N151.56 per litre.
The latest increase in the price of petrol came a day after the government also approved a new service-based electricity tariff increase by electricity distribution companies.
With no official statement from the Petroleum Products Pricing Regulatory Agency (PPPRA), the agency charged with determining the price of the product, filling stations were left to arbitrarily fix the price.
Expectedly reactions against the increase have come thick and fast.
Opposition party, the Peoples Democratic Party (PDP) rejected the increase outrightly it describing it as wicked and callous.
The party in a statement by its National Publicity Secretary, Kola Ologbondiyan demanded an immediate reversal of the prices to avert national crisis, as the increase will result in upsurge in costs of goods and services and worsen the biting hardship being faced by Nigerians, who are already impoverished and overburdened by high cost of living in the last five years.
According to him, “Our party asserts that by increasing the price of fuel from the N87 per litre it sold under the PDP to an excruciating N151 while at the same time allowing the hike in electricity tariff from N30.23 per kwh to over N66, the APC has left no one in doubt that its agenda is to inflict pain and hardship on Nigerians to satisfy their selfish interests.
“The unjustifiable increase in the price of these essential supplies, coming barely a week after the APC brazenly posted a support for fuel price hike, while attempting to rationalize the excruciating hardship being suffered by Nigerians under the Buhari administration, has further confirmed that the APC is at the center of the harsh policies of the Buhari Presidency”.
PDP noted that “It is distressing that the APC administration increased the cost of essential commodities at the time the leadership of other countries are offering palliatives to their citizens to cushion the effect of the COVID-19 pandemic. It is instructive to add that our nation is doomed under the APC watch”.
The party expressed shock that the ruling party could go to the extent of approving such a hike at a time many Nigerians are struggling to afford staple foods and other necessities of life.
PDP challenged the Buhari administration to publish the parameters with which it arrived at the increase of fuel price to N151 per liter given that with the prevailing values in the international market, the appropriate price template for domestic pump price in Nigeria ought not to be above N100 per liter.
The party alleged that the APC and its government have failed to allow an open investigation into allegations of fuel price overcharge as well as the fraudulent subsidy regime through which over N14 trillion had allegedly been frittered by unscrupulous individuals in the APC.
“Our fear is that the APC is pushing Nigerians to the wall with its obnoxious and anti-people proclivities and we caution that nobody should misinterpret the peaceful and law-abiding nature of Nigerians as a sign of weakness”, the party stated.
Also reacting, the Coalition of United Political Parties (CUPP) said it received with “shock and disbelief the decision of the Muhammadu Buhari administration to approve astronomical increase in fuel price at this time that Nigerians are already suffocating under the weight of numerous taxes”.
CUPP in a statement by the National Spokesperson of CUPP, Ikenga Imo Ugochinyere noted that “this increase is coming barely one day after the increase in electricity tariff by this same government took effect.
“We therefore reject this senseless, heartless, insensitive and wicked increase in its entirety”.
On his part, former governor of Ekiti State, Ayo Fayose, and a strong critic of Nigerian President, Muhammadu Buhari, stated that he warned Nigerians on the expectations of having Buhari as president during the countdown to the 2015 presidential polls.
Fayose in a statement on his twitter handle, @GovAyoFayose, also questioned the position of members of the Save Nigeria group who protested against the fuel price increase during the administration of former President Goodluck Jonathan in 2012.
The former governor, who also queried the rationale for the increase, wondered the justification for the increase despite the prevailing drop in world oil price.
He said: “Petrol is now N151.56. The increment was made when other countries are adopting measures to reduce the effects of COVID-19 lockdown on their citizens.
“Just in case those who led the Save Nigeria protests across Nigeria during the PDP government of Jonathan are not aware. I warned.”
