Some Nigerians are complaining about the high cost of living occasioned by the recent hike in the pump price of petrol.
They spoke with the News Agency of Nigeria (NAN) on Sunday in Abuja.
An economic expert, Dahiru Garba, said that the fuel price hike from N897 per litre to N1, 030 per liter will push more Nigerians into poverty.
Garba said that the sudden increase in the pump price of petrol by the Nigeria National Petroleum Company Limited (NNPC Ltd.) and marketers was beyond a simple fuel price adjustment.
He said that it would have a far-reaching impact on Nigeria’s private sector, trade and the already suffering Nigerian masses.
He said that without government interventions, the economic and social repercussions of the price hike would be severe and long-lasting, pushing more people into poverty.
“What we will witness is the immediate high cost of transport, which will lead to higher cost of food, businesses will suffer, some may fold up and inflation will rise.
“In the long term, it could pose challenges for small and medium-sized enterprises (SMEs) and the agricultural sector,” he said.
He urged the Federal Government to acknowledge these implications and consider measures to reduce the impact.
He suggested targeted incentives for energy efficiency, a halt to wasteful expenditure, and reducing cost of governance.
“Without such interventions, the economic and social repercussions of this price hike could be severe and long-lasting, pushing more people into poverty,” he said.
A retired widow, Mary Chatta, complained about the high cost of living.
“ My children are not working, they still depend on my pension which has not been increased according to the minimum wage act.
“Imagine buying one bag of rice for over N100,000. We no longer feed daily, I am scared and I do not know how I will survive,” Chatta said.
She urged the government to look into the economic situation in the country.
“I know that the government can do something for the masses to make it easier, but pensioners also have to survive.” Chatta said.
A frozen food trader, Mrs Oyiza Malik, said that the increase in petrol prices has added to her transportation cost.
“I am struggling to afford necessities like food and rent. I am finding it difficult to balance my budget,
“We expected so much from this government, but what we are seeing now is the least we expected.
“The situation is even more dire for low-income households who are already struggling to survive on meager earnings,” she said.
A taxi driver, Emeka Uzor, said that the price hike had taken away the little savings he had, as he no longer make profit.
“ I will just stop this business and look for something else to do.
“Passengers have been complaining that the price of transport is too high, but what choice do we have when we are buying fuel for N1,250 per litre.
“From Banex to Gwarimpa is now N500 and it used to be N200, from Kubwa to Berger between N1,000 to N1,500 which is not supposed to be so,” Uzor said.
.Reverse latest hike in petrol price pending court verdict, SERAP tells Tinubu
Meanwhile, the Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu “to direct the Nigerian National Petroleum Company Limited (NNPCL) to immediately reverse the second increase in petrol prices in one month, pending the hearing and determination of the suit before the Federal High Court, Abuja challenging the legality of the powers of the NNPCL to increase petrol prices.”
SERAP had last month filed a lawsuit against the president and NNPCL “over the failure to reverse the apparently unlawful increase in the pump price of petrol, and to probe the allegations of corruption and mismanagement in the NNPCL.”
In the open letter dated 12 October 2024 and signed by SERAP deputy director Kolawole Oluwadare, the organisation said: “The latest increase in petrol prices makes a mockery of the case pending before the Federal High Court, and creates a risk that the course of justice will be seriously impeded or prejudiced in this case.”
SERAP said, “One of the fundamental principles of the rule of law is that it applies to everyone, including presidents and CEOs of public institutions.”
According to SERAP, “It is in the public interest to keep the streams of justice clear and pure, and to maintain the authority and integrity of the court in the case.”
SERAP also said, “Allowing the Federal High Court to hear and determine the case would be entirely consistent with the letter and spirit of the Nigerian Constitution 1999 [as amended], your oath of office and oft-repeated promises to uphold the rule of law.”
The letter, read in part: “SERAP notes that since assumption of office in May 2023 you have repeatedly promised, including in your inaugural speech, that ‘Nigeria will be impartially governed according to the Constitution and the rule of law.’”
“Increasing petrol prices while the Federal High Court case is pending would prejudice and undermine the ability of the court to do justice in the case, damage public confidence in the court, prejudice the outcome of the case, as well as impede the course of justice.”
“We would be grateful if the recommended measures are immediately taken following the receipt and/or publication of this letter, failing which SERAP shall consider contempt proceedings and/or other appropriate legal actions to compel your government and NNPCL to comply with our request in the public interest.”
“If not immediately reversed, the latest increase in petrol prices would seriously undermine the integrity of the Nigerian Constitution and have serious consequences for the most vulnerable and disadvantaged Nigerians and the public interest.”
“Protecting the right to a judicial recourse and due administration of justice is of utmost importance, being the cornerstone of an ordered society.”
“The only way in which SERAP can have a fair and effective access to justice in this matter is to allow the court to decide, one way or the other, on the merits of the case before it.”
“Reversing the latest increase in petrol prices would allow the court to render a decision on the central issues in the case, and protect the applicant’s rights and interests.”
“The latest increase in petrol prices while the Federal High Court case is pending constitutes an interference with the right of SERAP to fairly and effectively pursue a judicial challenge to the decision by your government and NNPCL regarding the first increase in petrol prices.”
“According to our information, the Nigerian National Petroleum Company (NNPC) Limited recently increased the price of premium motor spirit (PMS), also known as petrol, across its retail outlets.”
“The retail price of petrol was increased from N897 to N1,030 per litre. This is the second increase in one month, and followed the increase in September from N600 to N855 per litre, and in some instances above N900 per litre.”
“The two increases followed a scarcity caused by the reported refusal by suppliers to import petroleum products for the NNPCL over a $6 billion debt.”
“According to the recently published 2020 audited report by the Auditor General of the Federation (AGF), the Nigerian National Petroleum Corporation (NNPC) failed to remit over USD$2 billion and N164 billion of oil revenues into the Federation Account. The Auditor-General fears that the money may have been diverted into private pockets.”
“The NNPCL reportedly failed and/or refused to remit N151,121,999,966. The NNPCL without any justification deducted the money from the oil royalties assessed for 2020 by the Department of Petroleum Resources (DPR) now Nigerian Upstream Petroleum Regulatory Commission (NUPRC).”
“The NNPCL has failed to account for the missing public funds. The Auditor-General wants the money recovered and remitted into the Federation Account.”
“The NNPCL also failed to remit USD$19,774,488.15 collected as government revenue to the Federation Account. The Auditor-General wants the NNPCL to account for the money, recover and remit it into the Federation Account, and to hand over those suspected to be involved to the ICPC and the EFCC.”
“The Nigerian Petroleum Development Company (NPDC) Ltd also reportedly failed to account for USD$2,021,411,877.47 and N13,313,565,786.49 of royalties collected from crude oil and gas sales and gas flare.”
“The Auditor-General wants the public funds fully recovered and remitted into the Federation Account and for those suspected to be responsible for the missing public funds to be handed over to the ICPC and the EFCC.”
“SERAP last month filed a lawsuit asking your government and NNPCL challenging the lawfulness of the increase in the pump price of petrol, and the failure to probe the allegations of corruption and mismanagement in the NNPCL.”
“Joined in the suit as Respondents is the Attorney General of the Federation and Minister of Justice Mr Lateef Fagbemi, SAN. The suit number FHC/ABJ/CS/1361/2024 was filed at the Federal High Court, Abuja.”
“Increasing petrol prices would compromise the interest of the Applicant in the Federal High Court case filed against your government and the NNPCL, as the second increase in one month directly touches on the central issues and the legality of the first increase, which the court is set to determine and rule upon.”
“The core of the principle of judicial independence is the complete liberty of the judge to hear and decide the cases before them on the basis of facts and in accordance with the law, without any improper interference, direct or indirect.”
.Don’t incite Nigerians against govt, APC Chieftain warns politicians
However, Mr Olatunbosun Oyintiloye, a Chieftain of the All Progressives Congress (APC) in Osun, has urged politicians to guard against utterances that could incite Nigerians into violent protest against government.
Oyintiloye said that any politicians hiding under the current temporary hardship in the country to incite the masses against the constituted authorities should be regarded as an enemy of the country.
The APC Chieftain made the remarks while speaking with newsmen on Sunday in Osogbo.
Oyintiloye, a member of the defunct APC Presidential Campaign Council (PCC), said that what President Bola Tinubu needed at this period was prayers and the support of all Nigerians to enable him stabilise the economy for the benefit of the masses.
He said that the current economic challenges in the country required the understanding and collaborative approach towards finding lasting solutions to them and not comments that could lead to public unrest.
Oyintiloye, a former lawmaker, who noted that the President was doing everything possible to turn the economy around, said it would amount to being unpatriotic for anyone, no matter highly placed, to incite the masses into a protest.
He called on the security agencies to be alert and ensure that anyone who is attempting to incite the masses to cause havoc in the country is made to face the law.
“There is no doubt that the economy is not in its best shape, but this is just temporary.
“The President is working assiduously to ensure that the economy is brought back to shape for Nigerians to enjoy.
“While we are waiting for that, I do not think inciting the masses against the government is the best way to go.
“I will strongly advise those politicians who are calling people to protest against the government to desist or be ready to face the law,” he said.
Oyintiloye appealed to Nigerians to be patient, adding that the effect of some of the policies of government may be harsh at the moment, predicting that the outcome would be better for all.
.As Obasanjo urges leaders to utilise Nigeria’s resources wisely
In a another development, Former President Olusegun Obasanjo has called on Nigerian leaders to judiciously use the country’s abundant resources to develop the nation.
Speaking at the Methodist Archdiocese of Abuja’s 40th anniversary celebration on Sunday in Abuja, Obasanjo emphasised that Nigeria had all it needs to thrive.
Obasanjo echoed the sentiments of Methodist Prelate Dr Oliver Aba’s message, emphasising the importance of appreciating God’s blessings.
“As God created other nations, endowing them with resources, He similarly blessed Nigeria with numerous resources for growth.
“Just as Egypt has the River Nile, Nigeria has the Rivers Niger and Benue, plus crude oil, fertile soil, and other natural resources.
“I firmly believe God didn’t create Nigeria to struggle. He has given us everything we need; it’s our duty to appreciate Him, especially since many countries lack what Nigeria has.
Obasanjo urged leaders, clergy, and citizens to pray for the country’s healing, acknowledging that Nigeria’s current situation isn’t God’s fault.
“We’ve squandered God’s gifts, but if we humble ourselves and seek Him, He will heal our land.”
President Bola Tinubu, represented by Mr Nyesom Wike, commended the Methodist Church Nigeria for its commitment to social justice, education, and humanitarian outreach.
In his goodwill message, Tinubu praised Methodist Church Nigeria for its pioneering role and impactful vision.
“I celebrate the 40th anniversary of Abuja Archdiocese, a testament to the church’s enduring spirit of faith, community, and service in Abuja and 183 years in Nigeria.
“The Methodist Church has significantly contributed to our nation’s development through social justice, education, and humanitarian efforts, transforming lives nationwide.”
Tinubu commended the church’s peace and unity promotion, urging continued dedication.
“As leaders, we acknowledge our responsibilities and commitment to overcoming obstacles. I call upon you to persist in your compassionate mission, as united efforts are crucial to addressing our national challenges.”
In his message, “Our Appreciation and Gratitude to God,” Methodist Church Prelate Dr Oliver Aba, emphasised the importance of appreciating God amidst challenges.
Citing Luke 17:15-17, he referenced the 10 lepers healed by Jesus, with only one returning to thank God.
Aba noted Nigeria’s challenges required divine intervention, urging calmness and faith.
“Everyone has a reason to seek God. Nigeria, calm down; there’s light at the end of the tunnel. We have a promised land to look forward to.”
The News Agency of Nigeria (NAN) reports that the service honored notable figures with the Knights of John Wesley award, including Obasanjo, Gowon, Tinubu, and his wife, Oluremi Tinubu, Goodluck Jonathan, George Akume, and Godswill Akpabio.
Other awardees included David Mark, Wale Edun, Oluwatoyin, and others..
Comments are closed.