Recent adjustments in fuel prices by the Retail Management of the Nigerian National Petroleum Company Limited (NNPCL) have led to a significant increase in costs. The price per litre has surged from ₦568-₦617 to between ₦855 and ₦897, depending on the region.
In response, independent marketers have further raised their prices, with current rates ranging from ₦930 to ₦1,200 per litre. This price hike has had a profound impact on many Nigerians, resulting in long commutes, missed work, and increased financial strain due to elevated transportation costs.
Impact on Nigerians and Economic Concerns
The surge in fuel prices has sparked widespread discontent. In a statement released on Thursday, Comrade Jamilu Aliyu Charanchi, National Coordinator of the Coalition of Northern Groups (CNG), criticized the government for what he described as an “artificial inflation” of goods and services resulting from the price increase.
Charanchi highlighted that fuel prices in some states have skyrocketed to as high as ₦1,400 per litre, which he deemed “unacceptable” and detrimental to the economic well-being of the masses. He argued that the price hike exacerbates existing issues such as inflation, unemployment, and insecurity, and reflects a disconnect between the government and the people.
Call for Government Action
Charanchi further stated, “This price hike is devoid of any democratic consideration and reflects a disconnect between the government and the people. Democracy is supposed to be a government of the people, by the people, and for the people. This policy of constant fuel price increases is clearly anti-people and anti-democratic.”
He urged President Tinubu to reconsider the policy, emphasizing that the government must prioritize the welfare of its citizens and take immediate action to mitigate the adverse effects of the price increase. Charanchi also called for the government to uphold democratic values such as accountability, transparency, and evidence-based policy-making.
The CNG’s statement underscores the urgent need for the government to address the rising fuel prices and their broader impact on the Nigerian population.
