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Tag: Fuel Price Hike

  • This is insensitive – Peter Obi tackles Tinubu over sudden fuel hike

    This is insensitive – Peter Obi tackles Tinubu over sudden fuel hike

    The presidential candidate of the Labour party (LP) Peter Obi, has condemned outrightly the recent hike in fuel price, calling on the Federal Government to immediately reverse the price hike.

    TheNewsGuru.com (TNG) reports that Obi while reacting to the recent petrol price hike via the microblogging platform, X on Saturday described the latest increase as unfortunate and insensitive.

    It would be recalled that the Nigerian National Petroleum Company Limited, NNPCL, on Wednesday increased petrol price from N897 per liter to N1, 030 in Abuja, and from N855 to N998 in Lagos.

    The former Anambra govt further called  on President Bola Tinubu, who doubles as the Minister of Petroleum, to provide full explanation, offer alternative options, and most importantly, reverse the sudden price hike.

    Peter Obi wrote: “As Nigerians continue to groan under extremely difficult economic conditions, largely caused by the Federal Government’s wrong policy choices, the NNPCL has once again raised the price of fuel (PMS) without providing any explanation.

    “This is both unfortunate and insensitive, considering the wide-ranging negative consequences for our economic survival and well-being.

    “This is neither how an economy’s resources should be managed nor how a nation should be governed. In this new measure, there is neither sound economics nor necessary compassion.

    “We are told that the NNPCL is now a limited liability company, regulated by agencies such as the NUPRC and NMDPRA, yet there seems to be growing confusion about the roles and responsibilities of the NNPCL and these regulating bodies.

    “Interestingly, both the NNPCL and the regulatory agencies are supposed to be under the supervision of the Federal Ministry of Petroleum Resources, with the President of the Federal Republic of Nigeria serving as the substantive Minister. Who, in this arrangement, is regulating who?

    “With the unprecedented but avoidable hardship that Nigerians are enduring, the responsibility for providing a full explanation, offering alternative options, and most importantly, reversing the sudden price hike falls squarely on the Honorable Minister of Petroleum Resources/President of the Federal Republic of Nigeria.

    “We hope and pray that he acts in the best interest of the majority of Nigerians, who are living under unnecessarily precarious conditions, and that he does so before his return from his working vacation.

    “To casually inflict such a draconian measure on the populace from the comfort of an annual vacation amounts to taking the people’s welfare lightly and for granted.

    “A New and more compassionate Nigeria is indeed Possible!”

  • Fuel price hike: Civil servants appeal for salary increment

    Fuel price hike: Civil servants appeal for salary increment

    Federal and state civil servants have appealed to both governments to increase workers salaries to reduce the hardships they currently face following increases in oil price in the country.

    Many of the workers who spoke to our correspondent said the appeal was necessary because prices of goods and transportation had also increased.

    A Federal Civil Servant, Ayomide Olusegun said following the hike in fuel price, prices of goods had also doubled.

    He noted that goods that cost between N200 N250 before the increase has had their prices doubled or tripled in some situations, hence the appeal for increment.

    “As you know, despite the increase in the pump price of fuel and the increase in the prices of foodstuffs and other goods, our salaries have remained the same.

    “Before the current increase in prices, the salaries of many of us could not even sustain us to the next salary day. Some of us spend our salaries on payment of credits,” he said.

    Mallam Lanre Isiaka, also a federal civil servant, said that he had to park his vehicle to walk to office because some of the fuel stations sold petrol for more than N184 a litre.

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    “We are appealing to the Federal Government to do everything possible to increase workers salaries to cover the deficit in our monthly take-home.

    “If I now go to the market with my salary I don’t think it will be enough for me to buy what I used to buy before the current increase in the prices of goods,“ he said.

    On his part, David Onoja, a state civil servant in Kogi State, said that the situation was beyond description, adding that only God could intervene.

    He said that his salary as an office assistant could hardly sustain him for the month.

    Onoja further called on the state government to increase salaries of its workers, especially those at the lower grades.

    But a permanent secretary in Benue told our reporter that increment in salaries may not be possible in states at the moment as they were facing a lot.

    “As a state, Benue is only hoping and praying that things don’t get worse than they currently are, otherwise, it would not be funny.

    “Even as we speak, many are only surviving by the grace of God. Things are difficult even from the top. The only thing now is to pray, otherwise many states don’t have money.”

  • IPMAN hints on fuel price increment, may consider 180 per litre

    The Independent Petroleum Marketers Association of Nigeria (IPMAN) has revealed that Premium Motor Spirit can no longer sell at 165 naira but insists they are not on strike.

    Lagos Zonal Chairman of IPMAN, Akin Akinrinade  while granting an interview on  Channels TV in Lagos  insisted they were not on strike.

    Akinrinade noted that the operating environment has become hostile to their businesses.

    He however, noted that the speculation that IPMAN is on strike is fake.

    “Members of Independent Petroleum Marketers Association of Nigeria IPMAN have shut down their stations, not because we are striking; we are not on strike,” Akinrinade said.

    “Rather, the business environment has been very hostile to us such that we can no longer do business under this condition. For you to load a litre of petrol, you pay in N162 per litre,” he added.

    Akinrinade said that it was no longer feasible to sell the product at the recommended price of N165 to a litre, adding that the landing cost of petrol was between N175 to N178 naira to the litre.

    “Our members can no longer sell (petrol) at N165 per litre; in fact, there is no reasonable person in this business that can sell below N180 per litre, so it is not as if we are on strike,” he concluded.

  • FG apologises to Nigerians over ‘unfortunate’ fuel hike information announced by PPPRA

    FG apologises to Nigerians over ‘unfortunate’ fuel hike information announced by PPPRA

    The Minister of State for Petroleum, Timipre Sylva, has apologised to Nigerians for the distress and inconvenience caused by ‘unfortunate information about the hike in fuel price.

    Sylva in a statement on Friday explained that neither he nor President Muhammadu Buhari had approved the increase in the retail price of petrol to N212 per litre.

    He said irrespective of the source of the information, “I want to assure you that it is completely untrue.”

    TheNewsGuru.com, TNG reports that the Petroleum Products Pricing Regulatory Agency (PPRA) in the early hours of Friday released a template showing that the new price of petrol has reached N212.6 per litre.

    This sparked outrage across the country especially on social media with many lamenting the effect that the increase would have on food prices and transportation in the country.

    Meanwhile, the PPRA later deleted the post which was earlier published on its website, http://pppra.gov.ng/pms-guiding-price-for-march-2021/

     

    See the full statement by the Minister of Petroleum below…

    Dear Nigerians, you are by now very aware of the news trending that the Federal Government has increased the price of petrol to N212.6 per litre.

    Irrespective of the source of that information, I want to assure you that it is completely untrue. Neither Mr. President who is the Minister of Petroleum Resources nor my humble self who deputises for him as Minister of State, has approved that the pump price of petrol should be increased by one naira. I would therefore urge you to disregard this misleading information.

    You are all aware that for the past few months the government has been in consultation with organized labour to find the least painful option to respond to the global rise in the price of crude, which in turn has inevitably led to an increase in the price of PMS. It is unthinkable that the government would unilaterally abandon these discussions and act in the manner suggested by the information under reference.

    Cynism and deceit have never been the trademark of the administration of President Muhammadu Buhari.

    I would like to equally assure you that the engagement with organized labour and other stakeholders will continue even as the calculations to arrive at a reasonable price regime are being done; all in good faith, and you will be availed of the final outcome at the appropriate time.

    Until then, all marketers are strongly advised to maintain the current pump price of PMS before the emergence of this unfortunate information. Those who may want to take advantage of this unfortunate misinformation to extort Nigerians should not give in to such temptation as there are regulatory mechanisms that govt can enforce to protect its citizens.

    In conclusion, I want to sincerely apologise to all Nigerians for any distress and inconvenience the unfortunate information might have caused.

    Timipre Sylva

    Hmspr.

    12.03.2020