Following the announcement by the Federal Government increasing the pump price of Premium Motor Spirit, PMS also known as petrol from N140.80 to N143.80 per liter from the current price of N123, the Peoples Democratic Party (PDP) has labeled this development as an increased punishment to Nigerians given the prevailing economic hardship in the country occasioned by the COVID 19 pandemic.
In a statement on Thursday by its National Publicity Secretary, Kola Ologbondiyan, the party rejected the increase describing it as a punishment to Nigerians given the prevailing economic hardship in the country.
“The party described the hike, despite the decline in the price of crude oil in the international market, as grossly unjustifiable and further exposes the insincerity of the All Progressives Congress, APC, and its administration. The PDP notes that in directing a fuel price increase at the time Nigerians are facing the economic and social trauma of the COVID-19 pandemic, the President Muhammadu Buhari-led APC administration shows a total lack of human feelings to the plights of our citizens.
Our party challenges the APC-led Federal Government to present to Nigerians, the indices and parameters it used to determine the price increase, which obviously cannot be in tandem with the prevalent situation in the global industry” the statement reads.
The party also accused the administration of running an over-bloated government through which resources meant for the welfare of Nigerians were frittered by corrupt officials.
“Under the APC, Nigerians have been subjected to untold hardship, which is worsened by excruciating taxes, including a 7.5 percent Value Added Tax (VAT) on essential commodities and services, increased electricity tariff, obnoxious Stamp Duty and other levies on bank transactions.
It is shocking that the APC government has continued to impose more burdens that have made life unbearable to our citizens, many of whom have lost their means of livelihood due to the misrule of the APC,” the statement added.
According to the PDP, the present administration has turned Nigeria into the poverty capital of the world and is worsening the situation with an increase in fuel price rather than seeking ways to stimulate the economy.
The PDP also asked the government to immediately reverse the pump price of fuel to a price not exceeding N90 per liter, given the templates in the price of crude oil in the international market.
Recall that the Federal Government had on Wednesday increased the pump price of petrol from N140.80 to N143.80 per liter.
The Petroleum Products Pricing Regulatory Agency (PPPRA) announced the increment in a statement issued by its Executive Secretary, Abdulkadir Saidu.
“After a review of the prevailing market fundamentals in the month of June and considering marketers’ realistic operating costs, as much as practicable, we wish to advise a new PMS pump price band of N140.80 – N143.80 per liter for the month of July 2020,” the statement read.