Mixed reactions have trailed the new pump price announced by the Federal Government on Wednesday. A statement issued by the Minister of State for Petroleum, Ibe Kachikwu, said the decision was taking at the end of the stakeholders meeting presided over by Vice President Yemi Osinbajo.
According to the statement, any Nigerian is free to import the product and sell at a price not above N145 per litre. “In order to increase and stabilize the supply of the product, any Nigerian entity is now free to import the product subject to existing quality specifications and other guidelines issued by Regulatory Agencies,” the statement read in part.
Residents who spoke with our correspondent said the increment coming at a time when the citizens are still grappling with the economic reality in the country would do a lot of harm than good to the common man. They argued that with the new pump price which is about 80 per cent increment, live will become unbearable for Nigerians in all aspects.
“Is this how President Muhammadu Buhari wants to repay the trust we put in him when we elected him to lead us last year? I suppose this is their first year anniversary gift to us and by the time they will be rounding off only God knows how much Nigerians will be paying for a litre of fuel. Now there will be increase in transport fare which invariably will translate to all other aspects of our national life. More money will be chasing few goods because the market women also have something to complain about. This is a government that has been foot-dragging on new minimum wage being canvassed by workers but can increase fuel price at will,” a civil servant in one of the federal ministries who gave his name as Iliya told LEADERSHIP.
But another resident, Emmanuela disagreed with Iliya’s argument. According to her, the Federal Government has taken a critical decision which will help stabilize fuel price in the country. “With this announcement, it is expected that fuel will be available at all pumping stations across Nigeria while scarcity should never be part of our dictionary in this country again,” he said.
Before the new price was announced, a litre of fuel was sold between N86 and N87. Courtesy: Leadership.