It is yet another harsh conditions for the poor masses in Nigeria as they have been hit by the sad news of an increase in pump price of petrol and electricity tariffs bill at almost the same time which is coming at a time the average Nigerian least expected it.
The Pipelines and Product Marketing Company (PPMC), a subsidiary of the Nigerian National Petroleum Corporation, (NNPC), issued a memo on Wednesday stating that effective immediately, the price of fuel would increase from N148 to N151.56k. No sooner had this memo was made known to the public than the retailers had hijacked the prices to various alarming rates to the detriment of the masses.
This is coming at a time when many jobs have been lost due to the economic situation as caused by the Covid-19 pandemic and most schools are shut down with teachers out of jobs without salaries.
Not too long the data for unemployment was released with high inflation rate , many Nigerians have condemned this increase and are calling for a nation wide mass protest against the APC led government.
ice from April 1, 2020, to take full effect on September 1, 2020. This, according to the government, is in the best interest of all.
We would recall that in some few months back the government had increased the pump price from N121.50 to N138.60, N143.80 and N145 per litre at different times, on the advice of the Petroleum Product Pricing Regulatory Agency (PPPRA), after reviewing market fundamentals and operating costs.
Meanwhile, the Federal Government had come out openly to assure Nigerians that the increase is for the best interest of Nigeria. What is on many people’s lips is how? A question still begging for answer.