Group Appeals to Nigerians to Endure Hardship Caused by Fuel Price Increase

A Coalition of Civil Society Organisations has appealed to Nigerians to endure the hardship caused by the increase in the price of petrol from N537 to N617 per litre.

The coalition comprises the Oil and Gas Transparency and Advocacy Group, Civil Society Coalition for Economic Development (CED), Centre for Citizens Rights, Centre for Good Governance Advocacy and Action Against Corruption in Nigeria.

The NNPCL on Tuesday increased the price of petrol to N617 per litre. This new price came barely three months after it was increased from N195 to N537 per litre.

Following the recent increment, filling stations across the country have been selling the product between N617 and N640.

In a statement by its lead Convener, Basil Musa, on Thursday, the coalition explained that the increase in the price of petrol was caused by the fluctuation of foreign exchange at the international market.

“The cost of landing has increased due to FOREX instability, hence, the slight increase would not only ensure continual importation of fuel by the independent marketers, but it will ensure availability of fuel at filling stations,” he said.

Mr Musa said the increase in the price of petrol would ensure smooth continuous importation of fuel by Independent marketers, and petrol will be available at all fuel stations

He claimed that the increase in the price of petrol would also discourage people from snuggling petrol to other African countries.

The convener noted that the removal of petroleum subsidy will also help the government to equip refineries within the country.

“Measures which are being put in place to mitigate the hardship occasioned by the increment in pump price will not just be palliative, but to fully deregulate the mainstream and downstream sector so as to break the monopoly of fuel importation and also to ensure that Nigeria’s local refineries are optimally working,” he said.

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