Former Head of State General Abdulsalami Abubakar (rtd) on pump price.

 

Former Head of State General Abdulsalami Abubakar (Rtd) has warned against increasing petrol prices at the pump.

Nigerians are about to pay more for gasoline, thanks to the National Economic Council’s (NEC) proposal that the pump price is set at N302 per litre.

However, the former Head of State warned against such a step during the 19th Daily Trust Dialogue in Abuja.

NEC, chaired by Vice-President Yemi Osinbajo, made the recommendation in November 2021.

This is reportedly part of government’s plan to fully deregulate the prices of Premium Motor Spirit (PMS), and eliminate monthly subsidy payments with provisions to ensure fair competition in the market.

Over 18 million Nigerians are still caught up in needless poverty. All of these tend to have negative effects on security. In fact, Nigeria now faces a full security crisis that is confounded by the COVID-19 global pandemic and the banditry in many states in Northern Nigeria.

“Most of these have disrupted the final value change across the country and negatively impacted the ability of Nigeria to produce, process, and distribute.

“There is a continuous rise in the prices of food items beyond the reach of many Nigerians. On top of all these, fuel prices are expected to rise significantly in the coming months as announced last November. We all know that when this happens, it will push many millions of Nigerians into poverty.”

“Insecurity in the country is worsened by our dear economic situation. Unemployment and underemployment remain at a high level. Over 18 million Nigerians are still caught up in needless poverty. All of these tend to have negative effects on security. In fact, Nigeria now faces a full security crisis that is confounded by the COVID-19 global pandemic and the banditry in many states in Northern Nigeria.