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Update: Outrage Trails Petrol Price Hike
By Emmanuel Awosika
Since the PPMC announced a hike in the price of Premium Motor Spirt (PMS), there have been furious reactions from various stakeholders in the country.
The Manufacturers Association of Nigeria (NAN) was one of the unions that faulted the hike in price of petrol.
Director-General of MAN, Ambrose Oruche, said the price increase will affect small and medium enterprises (SMEs) that depend on petrol to power their generators.
According to him, government should increase supply of electricity to reduce the dependence of small businesses on petrol, as this would reduce money spent on fuel.
“To reduce the impact, government should do more in ensuring power generation is big and distribution is efficient, and ensure that people get at least 20 hours of light in a day to reduce dependence on the PMS,” the DG said in an interview.
“Government should find a way of compensating the SMEs to stay in business through tax rebates or grants to remain in business and stay competitive.”
The Nigerian Labour Congress (NLC) was harsher in its criticism of the decision to increase pump price of petrol.
President of the NLC, Ayuda Wabba, said the latest petrol price increase proved that the Federal Government was taking Nigerians for granted, adding that the hike is “coming at a time when many Nigerians are passing through very peculiar and precarious times.”
“It’s like Nigerians are being taken for a ride; the increase in price of petroleum is like adding salt to injury,” Wabba said.
“The increase in price of petroleum has happened now more than three times in three months. Only yesterday (Tuesday), they hiked the tariff of electricity. To compound it, they also reduced the interest rate on savings which affected mostly the poor and the vulnerable.”
Prominent human rights activist, Deji Ayanju, also criticized the Buhari-led administration’s decision to increase fuel prices.
According to him, the measure would only make life harder for the masses, given the present economic situation in the country.
“The common man can hardly breathe. Buhari now has his hands tightfisted on Nigerians. He wants to make sure that people can no longer survive,” he added.
The Peoples Democratic Party, on Wednesday, also denounced the ruling All Progressives Council for hikes in price of petrol and electricity, and demanded an immediate reversal of the decision.
“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 APC-imposed high cost of living in the last five years,” the party said in a statement.
The new hike, effective from September 2, 2020 (yesterday), is the latest in a series of hikes announced this year.
The Buhari-led government has increased pump price of petrol more than three times in three months. The last hike came in August, when the price was increased to N138.62 per litre.
