JOSEPH OKWUOFU, Ibadan
A Chieftain of the New Nigeria People’s Party, (NNPP), Ambassador Olufemi Ajadi Oguntoyinbo, has sharply reacted to the Wednesday’s increase in pump price of Premium Motor Spirits (PMS) popularly called Petrol at the Nigeria National Petroleum Company Limited (NNPCL) filling stations across the country.
Oguntoyinbo is then appealing to President Bola Ahmed Tinubu-led government to call NNPC to order and immediately revert to the old price in order not to aggravate the suffering of the masses.
He said even masses were still struggling to buy petrol at the old pump price, not to talk of the new price regime introduced by the NNPC, which will suffocate Nigerians who are already suffering from the harsh effect of the bad economy in the country.
It would be recalled that the NNPC Ltd has increased petrol price to N1,025 per litre at various outlets across the country from its old price of N865 on Wednesday.
The recent development comes after the NNPC decided to terminate its exclusive purchase agreement with Dangote Refinery.
It was reported that the NNPCL is ending its exclusive purchase agreement with Dangote Refinery, opening up the market for other marketers to buy petrol directly from the refinery.
This open of the market for other marketers to purchase directly from the refinery, allowing for a “willing buyer, willing seller” pricing model, which this adjustment aligns with the full deregulation practices currently in place for petroleum products in Nigeria.
However, Ambassador Oguntoyinbo in a statement on Thursday cited the NNPC action as very insensitive to Nigerians’ plights.
He said these adjustments of the price by the NNPC would further aggravate the suffering Nigerians are currently undergoing.
Ambassador Oguntoyinbo, who was the governorship candidate of the NNPP in Ogun State in the 2023 elections believed the action of the NNPC would suffocate Nigerians.
“To their utter surprise, Nigerians received the shock of their life when they discovered the adjustment of price of petroleum products at the various NNPC Ltd depots across the country.
“I urge the Federal Government especially our President, who is also the Minster of Petroleum, Asiwaju Bola Ahmed Tinubu, to help instruct the NNPC to revert to the old price. As an economist, President Tinubu should realize and be conversant of the multiplier effects of continuous increase in the price of petrol.
“Nigerians are already suffering and adding to their sufferings at this time may not augur well for the country. Even before today, people have resulted into trekking long distances because of the high transport fares. Prices of foodstuffs have gone up beyond the reach of an average Nigerian. The new action by the NNPC will add more to the people’s suffering.
“I call on President Tinubu, elder statesmen and even the National Assembly to help do something on this insensitive action of the NNPC. We can’t continue to suffer in the midst of plenty. Don’t suffocate the poor the more, we should let them live”, Oguntoyinbo stated.
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