Fuel price: NLC, NUJ, others fume as anger, frustration spread nationwide

Nigerians were jolted on Tuesday following a further increase in the pump price of Premium Motor Spirit, PMS, popularly known as petrol.

However, less than two months after that increment, the Nigerian National Petroleum Company, Limited, NNPCL, has announced another increment, blaming it on market forces. An angry taxi driver in the state, Usman Adeola,had this to say, “it is not good, Nigerians are just being made to suffer everyday. Our children are in school, we have not paid their tuition, rent has not been completed, even to feed ourselves is a huge challenge.

Tunde Akinkunmi, a trader, said, “I thought I was in a trance when I got to the filling station, and I heard that petrol is now N617. This is criminal, I must tell you. A resident of Enugu, the Coal City State, Mr Samson Okoro said the government has pushed the citizens into avoidable suffering by putting the cart before the horse.

The National President of the Independent Petroleum Marketers Association of Nigeria , Elder Chinedu Okoronkwo was the first to confirm the new price increase to DAILY POST on Tuesday.“That is the regime we are in with removing fuel subsidies. The prices will continue to fluctuate based on market forces and the changes in Dollar in the foreign exchange market. That is why we are pushing for an alternative to fuel”, he stated.

“And this is the meaning of making sure that the market regulates itself so that prices will go up and sometimes they will come down; this is really what we are seeing; in reality, this is how the market works. ”This market is deregulated, and is open to all participants. As mentioned also yesterday when I was in Lagos, we have about 56 marketing companies that have applied for and obtained licences to import,” he said.

“There is no other way to explain the proposal to pay a misery sum of N8,000 Naira to each of the mysterious poorest 12 million Households for six months which amounts to N48,000 and pays just 469 National Legislators N70b or about N149m each, while the Judiciary that has about 72 Appeal Court Judges, 33 National Industrial Court Judges, 75 Federal High Court Judges and 21 Supreme Court Judges and a total of about 201 Judges receives a total of N35b or N174m each.

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