The People’s Democratic Party (PDP) of Nigeria has condemned the concurrent fuel price hike as excessive and unacceptable, given its economic repercussions on the country.
The PDP made its stand known in a statement by its National Publicity Secretary, Debo Ologunagba, on Wednesday in Abuja.
“Our party insists that the N617 per litre of fuel is excessive, unacceptable and cannot be justified under any guise. This is especially given the economic potentials and prospects within our country,” he said.
Mr Ologunagba added that even with the removal of subsidy on petroleum products, the PDP maintained that fuel should not be sold for more than N150 per litre in Nigeria.
He said that with deft, transparent and innovative management of resources, economic potential national comparative advantage and expanded value chain in refining capacity, the price should not be more than N150.
Mr Ologunagba said the rising cost of fuel had worsened the economic conditions of Nigerians and charged the All Progressives Congress (APC) led administration to seek ways to stabilise and grow the economy.
The spokesperson also said the PDP was alarmed over the fall in the value of naira.
He explained that the situation had forced businesses and production to shut down, made citizens lose their jobs and crippled commercial and social activities.
According to him, millions of families can no longer afford their daily needs as food, medication, and other essential goods and services continue to skyrocket.
The PDP spokesperson said this was not the country that Nigerians yearned for.
He dismissed the argument of market forces and comparison of the price of fuel in Nigeria with other countries, saying the countries being mentioned have functional infrastructure, transportation systems and energy.
Mr Ologunagba added that the currencies of such countries were very strong while their citizens earned far higher than what obtains in Nigeria.
See also: Fuel Hike: Work Two Days A Week, College Of Education Union Directs Lecturers
The national leadership of the College of Education Academic Staff Union (COEASU), on Wednesday, directed its members nationwide to attend their respective workplaces only two days in a week. Daily Trust reported.
The union, which premised its directive upon the recent price hike on the Premium Motor Spirit (PMS) popularly known as petrol, lamented that this has worsened the inflationary rate on the cost of transportation, food and other essential commodities.
Read the full story here on DAILY TRUST
Meanwhile, the Nigeria Labour Congress, Trade Union Congress and many other citizens have lambasted the President Bola Tinubu-led Federal Government for being so tough on citizens by allowing the continued hike in the price of petrol.
There was widespread anger by Nigerians, on Tuesday, following the hike in the pump price of Premium Motor Spirit, popularly called petrol, by the Nigerian National Petroleum Company Limited and other oil marketers across the country.
Read the full story on https://goodeveningnigeria.com/2023/07/19/nlc-tuc-lambast-tinubu-as-fuel-hits-n630-litre-shun-negotiation/