Nigerian News

Fuel price hike: We’re on our knees – Nigerian Parents’ Association begs Tinubu

The National Parent Teacher Association of Nigeria (NAPTAN) has made a passionate appeal to President Bola Ahmed Tinubu to do everything possible to prevent the price of petrol from going up any further.

National Deputy President of NAPTAN, Adeolu Ogunbanjo said the appeal was coming following an emergency meeting of the association on Monday in Lagos.

Oil marketers had projected an imminent price increase due to naira depreciation against the dollar.

According to the marketers, as long as the dollar keeps rising against the naira in the foreign exchange market, the price of fuel in the country will continue to increase.

However, Ogunbanjo has now called on the president to give a concession rate on the dollar to petroleum importers.

According to him, this will create an enabling environment whereby the current price of fuel in the country will remain the same.

“The removal of the petroleum subsidy we agree, align with it. However, unifying the naira at the same time is what is causing the hardship because anytime the dollar rises, fuel imports rise.

“It is upon this development that we are pleading and seeking for the intervention of our dear president to consider a concessionary rate for fuel importers.

“About 60 per cent are parents; September is around the corner, where school fees will be paid, so the Nigerian parents are crying, begging and kneeling for Mr President to hear us.

“He should do everything possible to stabilise the fuel price and make the current pump price not higher than what we are buying now, as anything contrary will increase hardship,” he added.

Meanwhile in related news…

President of the Nigerian Association of Liquefied Petroleum Gas Marketers (NALGAM), Olatunbosun Oladapo, disclosed that the price of gas will soon be hiked across the country.

He cited rising international prices, prices of vessels, forex scarcity, high tax rates and naira devaluation the major reasons for the intended price review.

Oladapo said the hike “is starting next week because international prices have gone up. The prices of vessels have gone up and taxes are high, but consumers are not earning more.

“Their purchasing power has gone down. Everybody is crying. Consumers, middlemen, and retailers are feeling the impact because business is now on the low side”.

The NALGAM president who urged gas consumers to brace for tougher times ahead, described the imminent price increment as unfortunate.

According to Oladapo, consumers are now returning to firewood, charcoal, and sawdust for cooking due to the price of gas.

“The situation is very unfortunate because prices are going higher. Nigerian consumers are passing through very difficult times because they can no longer afford gas.

“The government should come in and alleviate the suffering of the masses by providing palliatives, reducing taxes and levies.

“You can imagine that for every 1kg of gas priced at N700, tax would take way N3.50. How much is left in such a business?” he added.