Fuel Price Hike: We Are On Our Knees – Parents’ Association Begs Tinubu To Intervene

President Bola Ahmed Tinubu has been asked to, without further hesitation, intervene in the continuous increase in the price of petrol or fuel in the country.

The National Parent Teacher Association of Nigeria (NAPTAN) made the appeal on Monday following reports that the price of the commodity may go up again in August.

Naija News reported earlier how some marketers predicted that the per litre price of Premium Motor Spirit (PMS), better known as fuel or petrol, would likely go up again soon in August.

The reports have since generated concerns as it will bring more woes on Nigerians, considering that the citizens are yet to recover from the increase in the price of commodities and transportation following the recent hike in the petrol price by the Nigerian National Petroleum Corporation (NNPC) Limited.

Sources in the oil business confirmed to journalists during the weekend that there are strong indications that the pump price of petrol is expected to record another round of increases, the third within ten weeks.

Reacting to the reports, NAPTAN asked President Tinubu to do everything possible within his power to prevent the fuel price from further increase.

The National Deputy President of NAPTAN, Adeolu Ogunbanjo, while interacting with journalists on Monday (today), said the appeal was coming following an emergency meeting of the association on Monday in Lagos.

Ogunbanjo urged the Nigerian leader to as a matter of urgency 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.

He said: “The removal of the petroleum subsidy, we agree, aligns 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 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 when 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.”

Naija News recalls that President Tinubu in his live broadcast to the nation in July, said the government was monitoring the effects of the exchange rate and inflation on gasoline prices, promising to intervene if and when necessary.

However, oil marketers on Monday 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.