Opposition against the hike in petrol price by the Nigerian National Petroleum Corporation Limited, NNPCL, yesterday, swelled as the Nigerian Association of Chambers of Commerce Industry Mines and Agriculture, NACCIMA, the Peoples’ Democratic Party, PDP, former Vice President Abubakar Atiku, civil society organizations, CSOs, among others, insisted on the immediate reversal of the price increase to the old regime.Recall that Nigeria Employers Consultative Association, NECA, Nigeria Labour Congress, NLC, Baptist Conference, and Association of Senior Staff of Banks, Insurance and Financial Institutions, ASSBIFI, among others, had earlier demanded for the immediate reversal of the hike.
This came as Chairman, Alliance on Surviving COVID-19 and Beyond, ASCAB, Femi Falana, SAN, contended that the NNPCL’s decision to fix prices of petrol was illegal, a nullity and void, saying it contravenes Section 205 of the Petroleum Industry Act.Hike’ll worsen plight of businesses, households — NACCIMA
Reacting to the increase, President of NACCIMA, Dele Oye, said it will worsen the plight of businesses and households in Nigeria.Appraising economic implications of the hike, Oye noted that it will lead to increase in transportation costs which will serve as catalyst for higher freight charges, exacerbate the already high inflation rate in the country, and further strain the already meagre resources of micro, small and medium enterprises, MSMEs, that rely heavily on petrol generators to power their operations.He said:
“Many SMEs rely on affordable logistics to maintain competitiveness in the market, however, as freight charges rise, they may face tough choices: either pass the increased costs onto consumers or absorb the expenses, which could erode their profitability.
This situation can lead to reduced investment in growth or innovation, causing stagnation in the sector.
“The overall economic landscape for SMEs could thus shift from one of potential growth to one of survival, which would not only impact individual enterprises but also limit job creation and economic development in communities across Nigeria.
“The NNPC-led increase in petrol price poses significant challenges for Nigerians. Households will grapple with inflated costs of living, while businesses will face increased operational costs that may lead to reduced profit margins and, ultimately, job cuts.
”PDP demands immediate reversal of anti-people policies.
The Peoples Democratic Party, PDP, also asked the President Bola Tinubu-led All Progressives Congress, APC, administration, to immediately reverse its anti-people policies to reduce the worsening economic condition of Nigerians.
In a communique at the end of its 78th meeting in Abuja, yesterday, Chairman of the PDP’s Board of Trustees, BoT, Senator Adolphus Wabara, who read the communiqué said:
“The BoT demands that the APC administration immediately review its policies and take immediate steps to ensure reduction in the price of fuel, make key investments towards food production, revamp our manufacturing sector to stimulate employment opportunities and mitigate the suffering of Nigerians.
”Also faulting the hike in petrol prices, former Vice-President Atiku Abubakar, yesterday, lampooned President Tinubu, saying he is undisturbed by hardship in Nigeria.In a statement, yesterday, via X, Atiku described Tinubu as ‘T-pain’, adding that the handling of petrol subsidy by his administration caused the current economic crisis in Nigeria.
The former Vice President said: “The haphazard and disingenuous approach of the current administration to fuel subsidy management has been the reason we are in this current economic crisis in the country.
“As things stand, there will be no let-up in the escalating inflation rate, which is drowning the material well-being of Nigerians. It is even more worrying that T-pain is undisturbed by the hardship in the country.”Responding to a question on the hike during the commissioning of the new Press Centre for Senate Correspondents, Akpabio said:
“I have not assessed what is happening in terms of pump price increase, but it is not pump price increase, it is deregulation.
“If you are taking away consumer subsidy and then you want people to pay for the actual price of what we consume, it means if you have five cars you will now use one or two.
“It simply means that you are going to stop the idea of subsidy to make sure that the monies are used for other things. I don’t expect any increase in pump price.
I will expect the market forces to determine prices.“I will expect that now that the NNPCL is no longer going to bring petroleum products into the country, it means those who have the capacity will bring it and the more the products are available, the cheaper the price.
“At the beginning, it may seems to be increasing, but I believe strongly that with production from Dangote and other refineries when they become functional, the fact that it is now open to all to bring in products into the country, I can assure you that we may not even see higher pump prices.
“So, please let’s not dwell on the increase in pump price. We will assess it and if there is need for us to intervene, we will.”Condemning the hike, umbrella body for pro-people CSOs, the Joint Action Front, JAF, called on the Nigeria Labour Congress, NLC, and its Trade Union Congress of Nigeria, TUC, to lead the fight and against the price hike.
JAF in a statement by its Secretary, Abiodun Aremu, said: “JAF condemns the latest increase in the official price of petrol to N1,030 and calls on working people, youth and the poor to be prepared to resist it.
Tinubu’s government has shown that without a mass resistance, it has resolved to continue to unleash devastating attacks on living standards of the vast majority.
This latest hike which is the second in just one month means that Tinubu government has increased petrol price by over 400 percent since assumption of office in May 2023.
“Moreover, the fact that Nigerians have been made to pay as high as over N1,000 a litre for petrol despite that Dangote refinery has begun operation shows that there is no solution or succour to the economic hardship faced by the majority in the deregulation policy as Dangote like other private operators is in business for super profit.
Therefore, we call on the masses to insist the government must make existing refineries work and build new ones to ensure availability of petroleum products (petrol, diesel, kerosene, aviation fuel, etc) at affordable prices to all.
“We welcome the rejection of the criminal hike in petrol price by the NLC. But we call on the NLC and also TUC to go beyond the condemnation and begin mass mobilization of workers, youths and the poor masses for a mass resistance against the anti-poor policy.
We propose, as the first step, a declaration of a 48-hour general strike and nationwide mass protests, something which can be reviewed if the Tinubu government remains unyielding.
“We are of the opinion that Organised Labour, which has not seriously confronted the Tinubu government with a consistent mass struggle gives government false confidence and breathing space to continue to unleash neo-liberal attacks, which also include increase in electricity tariff and school fees hike in tertiary institutions.
“Nigerian working people and youths have shown through the #EndBadGovernance protest despite intimidation and repression by the Tinubu government that they are prepared to fight for the reversal of the anti poor policies.
So, we call on Organised Labour to provide leadership and platform for the growing mass movement. We call on Labour and the masses to demand the reversal of petrol price and electricity tariff to pre-May 2023 level.
”Tinubu out to inflict severe economic hardship on populace — MSASimilarly, one of the major grassroots based CSOs, Movement for a Socialist Alternative, MSA, said the latest hike is clear continuation of President Tinubu’s regime trend of inflicting severe economic hardship on the populace, who now face an even more precarious financial situation.
In a statement by its Coordinator, Dagga Tolar, MSA said: “The recent increase in the price of petrol from N855 to N1, 050 and above is yet another blow to the millions of Nigerians, who are already struggling to make ends meet.
This latest hike marks a staggering 430 per cent increase in petrol prices since President Tinubu took office just 17 months ago. It is clear that the Tinubu regime is continuing its trend of inflicting severe economic hardship on the populace, who now face an even more precarious financial situation.
“This sharp rise in fuel prices is occurring at a time inflation has soared above 32 per cent, and the cost of living is unbearable for many.
The Nigerian people are growing poorer, with the price hikes having ripple effects on every major commodity in the country. Transportation costs have skyrocketed to the point that the average Nigerian worker’s salary no longer covers even a week’s expenses.
Basic needs like food, healthcare, and shelter have become luxuries, as many households are now struggling just to afford a meal.“We unequivocally condemn this relentless assault on the Nigerian masses through continuous hikes in petrol prices.
For the second time in a month, government has chosen to ignore growing hardship faced by its citizens. These neo-liberal policies, driven by directives from the International Monetary Fund, IMF, and the World Bank, will not solve Nigeria’s economic challenges.
They have been ongoing for over four decades and failed in every sense to improve the economy, instead they further deepen the crisis, pushing millions more into poverty while enriching a tiny elite.
“The Tinubu administration’s attempts to pacify the people with palliative measures, such as distributing bags of rice, are both insulting and inadequate.
The country has been reduced to handouts of 5kg bags of rice while widespread poverty worsens. These so-called palliatives do nothing to address the underlying issues, nor do they alleviate the long-term suffering inflicted by these economic policies.
“Furthermore, the government and the NNPC continue to mislead the public about the status of Nigeria’s refineries. Earlier promises to resume fuel production at the Port Harcourt refinery by December 2023, were pushed to August 2024, yet there has been no progress or transparency on the matter.
Likewise, the hope that the Dangote Refinery would bring down petrol prices has proven false, as we have now witnessed two price hikes in just one month since the refinery began operations.
“The MSA calls on the NLC, and TUC, to mobilise Nigerian workers against these oppressive policies, by providing the needed leadership for an organised struggle and resistance against these policies.
The first step is to immediately call for a 48 hours general strike. Mere statements asking government to reverse petrol price hikes are not enough.
There must be concrete action, a coordinated, nationwide mobilization of workers, civil society groups, and all those affected by these policies to ensure that the general strike is total and sends the message of the willingness of the working masses to fully come into the arena of struggle.
“The incessant hikes in petrol prices have rendered the recently announced N70, 000 minimum wage meaningless. Even before full implementation, this new wage has been eroded by inflation and rising costs, and it is nowhere near sufficient to meet the basic needs of workers and their families in today’s economic climate.
The so-called “subsidy removal” has plunged the average Nigerian into deeper financial distress, and unless there is reversal of these policies, the country will face even greater instability.“The time for action is now.
We call on all labour unions, and civil society organizations to unite and demand an end to these brutal economic policies that are crippling the nation. Nigerians deserve better than a government that prioritizes profit over people.”Hike threatens our economic survival —ANEEJIn the same vein, Executive Director, African Network for Environmental and Economic Justice, ANEEJ, Rev. David Ugolor, said:
“This development poses significant threats to our economy and society as a whole.“The hike in fuel prices is likely to exacerbate the already precarious situation for millions of Nigerians, pushing many further into poverty.
Fuel is a fundamental resource that affects the cost of living across various sectors, including transportation, food, and essential services.
As prices rise, the burden on low-income families intensifies, leading to increased inequality and social unrest.“Moreover, small businesses, which are vital to our economy, may struggle to absorb these costs, potentially leading to closures and job losses.
The ripple effect could stifle economic growth and hinder development efforts across the nation.“In light of these challenges, our organization demands the following: Immediate Government Intervention:
We urge the government to reconsider the pricing structure and explore subsidies or support mechanisms to mitigate the impact on vulnerable populations.
“Enhanced Transparency: Government should provide clear communication about reasons behind the price hike and engage stakeholders to discuss potential solutions.”It’ll worsen our living conditions —CISLACExecutive Director, Civil Society Legislative Advocacy Centre, CISLAC, Awwal Rafsanjani, said:
“The recent announcement by the NNPCL, on the increase of pump price of Premium Motor Spirit, PMS, did not come to us as surprise.
“The Nigerian Govern-ment has withdrawn any support to ordinary Nigerians, our hospitals have been dilapidated because nobody goes to the hospital and gets subsidized medication, nobody goes to schools to get subsidized fees, and Nigerians have to pay for their security and for everything that government also is supposed to complement and intervene.
“Secondly, we are not surprised, since the administration came they have withdrawn the subsidy from the petroleum products, and the promise was that the proceeds of the subsidy would be used to improve the lives of Nigerians.
“So far, the Federal Government claims it has given money to the states and Nigerians have not seen any changes in their lives with the money that have been saved with the withdrawing of the subsidy.
“So, honestly speaking, Nigerians have been buying a litre of PMS at N1,300 as against when the cost of PMS at just a year and half ago was less than N170. This is not bearable by Nigerians, and with this increase, prices of goods and services have gone up.
“Government needs to seriously do something and intervene because you cannot withdraw support to Nigerians just like that without any efforts to ensure that ordinary Nigerians are given the necessary support to survive.
This is not something good because democracy promises quality and affordability of life but the leaders in Nigeria does not care about Nigerians.
“Thirdly, public officials in Nigeria are yet to moderate their lifestyles and spending because they’re still recklessly spending taxpayers’ money either in unproductive travels, projects that have nothing to do with improvement of quality of life or helping to generate revenue. Government must do everything possible to block leakages, corruption in the oil sector must be seriously dealt with, and this is the God-given resources of the people and no way you deprive the people from benefiting from it.
Nigerians have been sacrificing and nothing to show after tolerating all these excesses.
”It has eroded the yet to be implemented mimimum wage — ActionAidCountry Director, ActionAid Nigeria, AAN, Andrew Mamedu said: “This is another fuel price increase centred on the hardship Nigerians are already facing, which this government promised to make things better but invariably making life more harder for Nigerians.
“The minimum wage approved some few months ago has totally been wiped off by inflation and now the current increase in petrol pump price. In fact, this is the third significant increase and Nigerians are not prepared for it.
“Government is saying it is not interfering; that it is demand and supply that is at work, and I am still saying in many parts of the world there is still one subsidy or the other.“If it is corruption then deal with it, there is a strong element of corruption within the oil and gas sector and a lot of leakages and corruption in the sector, and Nigerians should not be made to pay for the inefficiency.
“People are asking for the alternative, there is CNG, and others including the mass transit buses that are properly metered.“There are ways to deal with this, if not the poor will continually be under and Nigerians are really suffering, people are surviving with unthinkable means with increase in crime in order to survive.
“The school feeding has been taken away which Nigerians rely on. So the legislators and government should look into this.”On his part, one of the leaders of the New Nigeria People’s Party, NNPP, Olufemi Oguntoyinbo, in a statement said:
“We were shocked to see the sudden rise in petrol prices. I urge President Tinubu, who also holds the position of Minister of Petroleum, to direct the NNPC to revert to the old price.
As an economist, he must understand the far-reaching consequences of continually increasing petrol prices.”He expressed concern that rising fuel costs would further inflate food prices and other essential goods, making life increasingly difficult for the average citizen.“I call upon President Tinubu, elder statesmen, and the National Assembly to address this alarming decision by the NNPC.
”“We cannot allow the poor to suffer further in the midst of our nation’s resources. ”Endbadgovernance movement demands hike reversalAlso reacting, the #EndBadGovernance movement Organising Committee, Lagos State, led by Hassan Soweto, Osugba Blessing and Oloye Adegboyega-Adeniji in a statement said:
“This latest increase is the second of such in a month, and it is bound to drive the Nigerian people, including workers, youth, artisans, traders and the mass of the people, into a worse state of starvation and hardship.“We hereby demand immediate and unconditional reversal of the hike, as well as return of petrol price, electricity tariffs and food prices to pre-May 29, 2023 levels.
“As far as we are concerned, this development is a clear indication that President Tinubu is neither prepared for dialogue nor is he ready to reduce the burden of hunger and excruciating hardship that hapless Nigerians have been bearing since last year when he came to power.
To this extent, we call on the Nigerian people to rise in their millions to begin to confront this government with protests and demonstrations until the criminal hike, along with other anti-There has been significant backlash against the recent petrol price hike in Nigeria, with key voices such as the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), the Peoples Democratic Party (PDP), former Vice President Atiku Abubakar, and various civil society organizations (CSOs) calling for a reversal.
Atiku, in particular, has expressed concern over the government’s decision, warning that the hike, along with increases in VAT and electricity tariffs, will worsen Nigeria’s cost-of-living crisis, already compounded by inflation and a devalued naira. He criticized President Tinubu’s administrat
THE ROTTEN FISH: CAN OF WORMS OPENED OF APC & TINUBU'S GOVERNMENT OVER NIGERIA'S ECONOMIC DOWNTURN
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