The Minister of State for Petroleum Resources, Ibe Kachikwu, had on Wednesday, May 11, declared that investors are now free to import petroleum products into the country and sell as high as N145 per litre.
The pronouncement has since generated mixed reactions with many Nigerians condemning and describing the sudden increment as anti-masses.
It could be recalled, that former President, Goodluck Jonathan, had in January 2012 withdrawn petroleum subsidy, from Premium Motor Spirit, PMS, (petrol) leaving the product to sell as high as N141 per litre.
In reaction, the then Action Congress of Nigeria, ACN, and the All Nigeria Peoples Party, ANPP, which formed the All Progressive Congress, APC, had organised Civil Society Organisations, CSOs to occupy Nigeria, thereby frustrating Jonathan’s move to deregulate the sector.
Few years later, Nigerians are now currently in shock as the APC-led government has decided to tow Jonathan’s path of honour, which was negatively criticized and rejected.
A Nigerian who refers himself as Micheal Joel, in an open letter signed by him, said, he is apologizing to former president Jonathan on behalf of every Nigerian.
Joel said, “Our Dear Goodluck Jonathan, I write on behalf of all Nigerians to tender an unreserved apology to you for unknowingly voting you out of office as the President of a ‘once upon a time’ Giant of Africa, Nigeria.
Dino said, “This is the greatest injustice in the history of mankind. How can a responsive and responsible government at this critical time in the history of a nation whose people are lamenting the hike in price of every commodity increase the fuel pump price at an astronomical increase of over 70% from N86.50 to N145.
Obinna Chukwu said, “Buhari should humble himself and ask Jonathan how he managed to keep dollar at 180 against the naira, how he managed to improve the electricity supply, how he managed to stabilise fuel price without scarcity, how he managed to curb inflation, among others.”
With the current hike in fuel price taking effect from Wednesday May 11, Post-Nigeria has discovered 5 bitter pills Nigerians will be forced to swallow in the coming weeks.
One of such is Marginal Hike in Food Prices: Food prices across villages, towns and cities in Nigeria will go up, with those not easily produced within the country going through the roof.
Earlier, Post-Nigeria reported that basic staple food across the country had risen beyond the reach of the ordinary Nigerian.
With the 80 percent hike, the Price of a commodity like rice which is a common household meal, might go between N20, 000 – N22, 000 per bag as against N16, 000.
A basket of tomatoes is currently going for N35, 000 with 4 pieces been sold between N300-N500.
Related: More sad news for Nigerians from Buhari’s Economic team
Other areas to be affected would be in Transportation fares, as the cost of movement which is an essential basic need of man will skyrocket, the spillover effect will lead to high cost of production, which will eventually lead to Massive Hunger; aside Weak Purchasing Power as the N18, 000 minimum wage will be nothing to write home about.
“I know many will shy away from accepting this fact, especially, those from the Aggrieved People Caucus, APC, who are commonly known for boasting of what they cannot or will never do.
“Before your exit, we Nigerians used to buy fuel at N87.00 per liter. Who knows, by now may be you would have brought it down to N22.00 per liter.
“Your Excellency Sir, believe me, we have all learnt a lesson and we promise, never to repeat such blunder,” Joel said.
Courtesy: Post Nigeria
Eze Afrika
