Nigeria

Nigerians express frustration over fuel price increase by FG

Friday, September 04, 2020 at 5:35 PM by Jerrywright Ukwu

- The increase in the pump price of petrol continues to generate reactions from Nigerians

- A poll conducted by Legit.ng shows majority of the citizens are not happy with the government's decision

- Many of the respondents say they are not happy with the new development

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Many Nigerians have expressed frustration over the recent fuel price increase by the federal government.

In a poll conducted by Legit.ng on Thursday, September 3, many of the respondents say they are not happy with the new development.

While 47.6% of the respondents say they are frustrated over the price hike, 35.9% say they are angry over the development, 11.2% say they will adjust to the new realities while 5.3% of the respondents are of the opinion that the hike was caused by the COVID-19 pandemic.

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Some respondents also commented and shared their thoughts on the issue.

Nomishan Daniel wrote: "Deregulation at work. Henceforth, PMS prices will fluctuate back and forth, based on market forces determined by Brent."

Curtis Valentine wrote: "I am angry at this government. When you check very well, Nigeria is in deep debt running into several trillion. My thought is the government is trying to make money by all unnecessary means just to pay back."

Alex Obinna wrote: "That's what happens when a government is in shambles."

Nigerians express frustration over fuel price increase by FG — The Buhari-led government have been facing heavy backlash since the announcement was made. Photo Credit: @NGRPresident
Source: Twitter

Legit.ng had earlier reported that Pipelines and Product Marketing Company recently announced that the price of premium motor spirit popularly known as petrol has been increased to N151.56 per litre.

The development comes barely five months after the commodity was reduced to N123 per litre by the federal government.

The news also comes a day after the Nigerian National Petroleum Corporation (NNPC) has disclosed that between June and August 2020, it spent a whopping N5.34 billion on fuel subsidy.

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The NNPC said the subsidy costs represented temporary payments to marketers who bought imported fuel and then sold it on for stocks they held when the subsidy was removed and would be spread over six months.

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Meanwhile, the Peoples Democratic Party has rejected the fresh increase in the price of fuel to N151 per litre and electricity tariff to N66 per kwh by the Buhari-led administration.

The opposition party in a statement sent to journalists on Wednesday, September 2, by its spokesperson, Kola Ologbodiayn, described the decision of the government as “callous, cruel and punishing.”

The party demanded an immediate reversal of the prices to avert a national crisis, stressing that the increase will result in an upsurge in costs of goods and services.

Similarly, the Advocacy for Integrity and Economic Development (AIED) described the increase in the price of petrol and the upward review of electricity tariffs by the Nigerian Electricity Regulatory Commission as “draconian anti-masses policy by a heartless administration.”