*Scores of energy consumers, and several others stakeholders have urged the Federal Government to immediately reverse the recent petrol price increase, and promote policies that will strengthen the Naira, restore confidence, and alleviate the sufferings of millions of Nigerians, stating that increments in petrol and power tariffs 鈥榙emonstrate lack of empathy and understanding鈥� of consumers鈥� challenges in the economy

Gbenga Kayode | 绿帽献妻

Cross-sections of Nigerians, including consumers of goods and services, Organised Labour, House of Representatives Committee on Petroleum Resources (Upstream), Civil Society Organisations, trade associations, Afenifere, and opposition parties, have roundly condemned the Federal Government鈥檚 decision through the Nigerian National Petroleum Company Limited (NNPCL) to increase petrol pump price and purportedly, impoverish more millions of Nigerians amid the economic hardship and attendant social dislocations across the country.

绿帽献妻 reports despite the NNPCL鈥檚 recent 鈥榗ontroversial鈥� petrol price increment in the West African country, checks have revealed that the product yet sells for N880 at the state oil firm鈥檚 mega filling stations, while independent oil marketers sell between N950 and over N1, o00 per litre, in Abuja, FCT, and Lagos, as of Thursday, September 5, 2024.

Industry regulators and player(s) – L-R: Engr. Gbenga Komolafe, CEO of NUPRC; Hon. Heineken Lokpobiri, Honourable Minister of State for Petroleum Resources; Alhaji Aliko Dangote, President/CE of Dangote Industries Limited; Malam Mele Kyari, Group CEO of NNPCL; and Farouk Ahmed, CEO of NMDPRA, at a recent ‘peace meeting” over crude supply logjam for Dangote Petroleum Refinery, in Abuja, FCT

Reports also inmdicate that independent marketers sold the petroleum product for as much as N1,200 and N1,300/litre in some states, following an upward review of prices by the NNPCL.

Worse still, fuel scarcity took a turn for the worse amid long queues in Nigerian major cities during the week, even as black marketers took advantage of the opportunity to sell the product at as high as N1,500 per litre, according to report.

The situation, again, is fast unsettling millions of energy consumers, as several filling stations are still under lock and key amid apparent uncertainties induced by the recent fuel scarcity across Nigeria.

Reacting to the development, the Trade Union Congress, a member of the Organised Labour, Wednesday, September 4, had kicked against the sudden increment in the pump price of petrol.

The TUC, in a statement, warned that the fuel price hike would deepen poverty and frustration among workers in particular and Nigerians in general.

It is noted that the Nigerian National Petroleum Company Limited (NNPCL) has announced the increase in the pump price of petrol to N855 per litre, just as the Dangote Petroleum Refinery Limited rolled out PMS this week, in Lagos.

In regard to the development, Comrade Festus Osifo, President of TUC, who signed the statement, urged the Federal Government of Nigeria to 鈥渋mmediately rescind these decisions, promote policies that will strengthen the Naira, and take decisive steps to alleviate the suffering of Nigerians.鈥�

The union contended that the latest sudden price hike, 鈥渋mplemented without consultation with critical stakeholders鈥�, represented a blatant disregard for the welfare of the Nigerian consumers, especially the working class who bear the brunt of such unilateral decisions in the economy.

Osifo stated: 鈥淭he sudden hike in fuel and electricity costs will only exacerbate these challenges, leading to further hardship and potential social unrest.

鈥淲e urge the government to immediately rescind these decisions, promote policies that will strengthens the Naira and take decisive steps to alleviate the suffering of Nigerians.鈥�

The TUC President stated that the government must act swiftly to restore confidence and prevent further deterioration in the living conditions of its citizens.

He also said: 鈥淭he Trade Union Congress of Nigeria remains committed to defending the rights and interests of Nigerian workers and will continue to advocate policies that promote social justice, fair wages, and a decent work environment.鈥�

Petrol, power tariff increments 鈥榙emonstrate lack of empathy, understanding鈥� of consumers鈥� challenges, says TUC

Osifo, who further indicated that the Congress is already deeply troubled by the further hike in electricity tariffs by 250 percent, said electricity is essential for the survival of the poorest in the society.

The TUC as well challenge the timing and magnitude of the tariff increases in both the electricity and petroleum sectors of the Nigerian economy, wondering why the ordinary citizens would bear the pains of the government鈥檚 harsh policies.

L-R: Senate President Godswill Akpabio; Comrades Joe Ajaero, NLC President, and Festus Osifo, President of TUC, few days before Federal Goverment’s Approval of N70,000 National Minimum Wage for workers, in Abuja

He further asked: 鈥淲hy does it have to be the common Nigerians bearing all the pains of high cost of living while those in power enjoy increased allocation and affluence?鈥�

The TUC noted that weak value of the Naira is one of the root causes of the economic problems facing the West African country is faced with as of now.

鈥淲e are deeply troubled by the further hike in electricity tariffs to 250%, a service that is essential for the survival of the poorest in our society.

鈥淭he timing and magnitude of these increases, in the absence of any meaningful social security measures, demonstrate a lack of empathy and understanding of the challenges faced by ordinary Nigerians.

鈥淲hy does it have to be the common Nigerians bearing all the pains of high cost of living while those in power enjoy increased allocation and affluence?

鈥淭he government has not made any concerted efforts to reduce the cost of governance or personal effects, nor have they focused on directing resources or effecting policies that would strengthen the naira and improve the standard of living of our citizens,鈥� Osifo stated.

Government, NNPCL should suspend petrol price increase in consumers鈥� interest: 聽Chair, House Committee on Petroleum

As the far-reaching implications of the fuel hike on Nigerians are becoming more realistic on many, the House of Representatives Committee on Petroleum Resources (Upstream), in the National Assembly (NASS), Abuja, has urged the Federal Government to take urgent measures to revert to the old PMS price.

Describing the fuel sitution as a development that has shown no sign of abating since President Bola Ahmed Tinubu’s express announcement of the removal of the subsidy May 29, 2023, in Abuja, FCT, Hon. Alhassan Doguwa, member representing Tudun Wada/Doguwa Federal Constituency, Kano State, and Chairman of the House Committee on Petroleum Resources (Upstream), in a statement Thursday, September 5, argued the reversal becomes critical as the developments in fuel pricing have shown no sign of abating since then.

Doguwa, who is also Chairman, House Special Committee on Crude Oil Theft and Vandalisation of Pipelines, urged the Federal Government and the NNPCL to take urgent steps to revert to the old pump price of the Premium Motor Spirit.

The Federal lawmaker contended that petrol price was on a steady rise throughout the immediate past administration, and it is a development that has shown no sign of abating since the removal of the subsidy.

He stated: 鈥淎s a committee, we urge the Nigerian government and, of course, the NNPCL to consider the plight of Nigerians and suspend this recent increase in pump price.

鈥淣igerians are currently going through a lot today and adding to this burden is not in our collective best interest.

鈥淟et us revert to the old pump price as soon as possible and probably intensify engagements with major stakeholders to address the problem.鈥�

Hon. Doguwa also asserted: 鈥淎s a special committee, we will aggressively seek modalities to interface with the youths and community leaders in the oil-producing areas to address the frequent cases of crude oil theft, which is one of the reasons capable of affecting petrol supply across the country.

鈥淲e are working in collaboration with security agencies in their quest to secure oil pipelines and other critical facilities in the country. We believe that a return to the old pump price will calm frayed nerves, thus enabling Nigerians to go about their daily activities with ease.鈥�

The lawmaker, however, urged Nigerians to give the President Tinubu-led government a chance to reposition the oil and gas sector.

Fuel queue in Lagos

The Petroleum Industry Act coupled with the effort to revive the dysfunctional oil refineries, Nigeria would in no distant time reap the benefit of her oil and gas endowments to the benefit of the entire citizenry.

He added: 鈥淲e believe that with the interventions the government is making to commence operations at Port Harcourt and Warri refineries, these challenges will come to an end.鈥�

Petrol price hike a betrayal, insensitive by Tinubu鈥檚 administration, say NLC, Afenifere, others

In its reaction to the fuel price increment, the Nigeria Labour Congress (NLC) has described the development as 鈥渁 betrayal by the government鈥�.

The Labour union, in a statement Wednesday, yet maintained that the Federal Government had undertaken, in the thick of series of negotiations over the approved N70,000 National Minimum Wage Deal with the Organised Labour, it would not approve further hike in the price of petrol.

Nonetheless, the Federal Government has since denied making any undertaking with the Labour unions to not increase fuel prices in the economy.

Mr. Abdulaziz Abdulaziz, Senior Special Assistant (SSA) to Mr. President on the Print Media, in a statement, was quoted as saying: 鈥淚 sat through the two meetings President Bola Ahmed Tinubu had with labour leaders on minimum wage.

鈥淎t neither of the meetings was an offer made in exchange for the fuel price hike. Ajaero is once again playing his dirty politics with the emotions of Nigerians.鈥�

Afenifere: NNCPL shouldn鈥檛 make consumers pay for 鈥榠ts inefficiency鈥�

Likewise, Afenifere, a Yoruba socio-cultural and political group, advised the Nigerian Government to immediately direct the Nigerian National Petroleum Company Limited to immediately reverse the price increase, a report noted.

The group, in a statement by Jare Ajayi, its Spokesman, asserted that Nigerian consumers are currently going through a lot of challenges as a result of the biting socio-economic crunch and the attendant hardships.

Ajayi noted ironically, the announcement of the NNPCL鈥檚 debt to foreign suppliers came not long after the national oil company had announced that it made N3.3 trillion net profit in its 2023 Audited Financial Statement.

Afenifere also wondered why a state oil firm that recently declared profit running into trillions of Naira could, almost in the same breath, claim that it was indebted to the tune of nearly $7 billion.

It further quipped: 鈥淲hy not pay off the debt from the available fund before declaring it as profit?

鈥淚t is, therefore, a wrong time to come up with any policy that will increase the undesirable challenges Nigerians are going through presently.

鈥淔ailure by the NNPCL to reverse the latest increment in fuel price will rub off negatively on some policies of Tinubu administration to ease things for the citizens. 鈥淧olicies, such as the Students Loan Scheme and Consumer Credit Scheme that are just taking off.鈥�

The oil company seemed to be making Nigerians pay for its inefficiency, Afenifere stated.

Nigerians facing 鈥榮uffocating economic hardship,鈥� says PDP

In the same vein, the opposition Peoples Democratic Party (PDP) has rejected what it described as the punishing increase in the pump price of Premium Motor Spirit to 鈥渙ver N1,000 per litre鈥� in various parts of the country.

The leading opposition party stated it is a brutal assault on the sensibility and well-being of Nigerian consumers 鈥渂y the insensitive and arrogant All Progressives Congress (APC) administration鈥�.

Debo Ologunagba, National Publicity Secretary of PDP, in a statement, said: 鈥淭he thoughtless increase in fuel price, especially at this time, is a huge recipe for crisis, as Nigerians cannot bear its worsening effect on the suffocating economic hardship, which they currently face under the President Bola Ahmed Tinubu-led APC administration.

鈥淭he secretive and corrupt administration of the petroleum sector and persistent increase in fuel price under the Tinubu-administration, without due regard to the wellbeing of the people, is akin to pushing Nigerians to the wall and daring them to do their worse.鈥�

LCCI, ActionAid Nigeria condemn fuel price hike

ActionAid Nigeria and the Network Against Corruption and Trafficking (NACAT) condemned the latest hike in pump price of PMS, and demanded immediate action from the government on economic reform.

In its remarks, the Lagos Chamber of Commerce and Industry (LCCI); Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA); the Organised Private Sector (OPS); and Nigerian Gas Association (NGA) all frowned on the increment in petrol price.

The Lagos Chamber of Commerce and Industry (LCCI) also stated that the removal of petrol subsidy in a manner that caused a sharp hike in the pump price would present significant challenges to Nigerians and businesses.

Dr. Chinyere Almona, Director-General of LCCI, however, stated that the current petrol subsidy I not sustainable, and the burden of the shortfall has accumulated to a debt of N10 trillion.

Almona, in a statement said: 鈥淐ompletely removing it and subjecting Nigerians to a significant fuel price hike presents significant challenges.

鈥淎 steep price hike would likely trigger widespread price increases, potentially reversing the recent easing in inflation seen in July and leading to another surge in inflation rates. 鈥淏alancing the need for fiscal responsibility with the economic impact on citizens is a complex task for the government.鈥�

According the Chamber, the impact of the latest hike in petrol price on businesses 鈥渨ill be severe, with fuel prices affecting supply and logistics, power generation, transportation, and factory operations.

鈥淭he cost of doing business will skyrocket, prices of goods will rise, and some firms may shut down due to low demand in the face of weakening consumer purchasing power. Of course, this will be followed by job losses.鈥�

The LCCI also submitted though the 鈥渟ituation is critical, when considered against the background of NNPC, which owes suppliers about $6 billion, the operation of the Dangote Refinery, which now produces fuel and diesel for sale, offers a glimmer of hope.

鈥淭his game-changing intervention could restore some stability to the oil and gas sector, which has been grappling with significant distortions this year.鈥�

Dr. Almona further stated: 鈥淪upporting the development of additional local refineries to process our crude for local consumption and potential export across Africa is the way forward.

鈥淭his long-term strategy is crucial for the stability and growth of our economy.

鈥淎s an immediate intervention, it would be beneficial for the Port Harcourt Refinery to commence operations alongside production from the Dangote Refinery.

鈥淕iven the current challenges with importing refined fuel, relying on local production may be the most viable option at this time.

鈥淲e recommend sustaining local supplies, with the expectation that demand will eventually align with supply, leading to equilibrium pricing across various sources.鈥�

NANS: We鈥檙e committed to advocacy, constructive engagement to resolve fuel hike

In a related development, and contrary to earlier reports in the public space that the national students鈥� body was planning a nationwide protest to shut down the economy over the price hike, the National Association of Nigerian Students (NANS) has denied claims of planning any protest.

Hitherto, the statement attributed to NANS had called for the resignation of Malam Mele Kyari, Group Chief Executive Officer (GCEO) of NNPCL, and reversal of the latest increase in fuel price.

However, NANS has strongly denied these allegations and labelled such reports as incorrect.

The student leaders rather clarified that they have no intention to initiate a shutdown in the economy amid the current hardship in the country.

They stated: 鈥淎s the umbrella body representing the interests of Nigerian students, we have always been committed to peaceful advocacy and constructive engagement with relevant stakeholders.

鈥淲e understand the critical importance of maintaining peace and stability in our nation, especially during these challenging times.

鈥淎ny actions that could lead to civil unrest or the disruption of public order are not, and will never be, supported by NANS.

The Association also restated its commitment to handling the challenges Nigerian students face, including the economic impact of the fuel price hike.

According to them, such issues would be tackled through 鈥渓egitimate channels鈥� and in collaboration with relevant stakeholders.

NANS further assured that it would continue engaging with officials and stakeholders to find solutions as the fuel situation further unfolds in Nigeria.

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