The Peoples Democratic Party (PDP) has firmly rejected the recent increase in the pump price of petrol in Nigeria, labelling the move as reckless and ill-timed.
In a statement issued by the party’s National Publicity Secretary, Debo Ologunagba, in Abuja on Thursday, the PDP called on President Bola Tinubu to take urgent action to reverse the latest fuel price hike, warning of its severe socio-economic implications for Nigerians already struggling with rising costs of living.
Ologunagba condemned the fuel price increase, describing it as a thoughtless decision that exacerbates the existing economic challenges faced by millions of Nigerians.
He argued that the government’s repeated adjustments to fuel prices without transparency or consideration for the public’s welfare have only deepened the hardships experienced by ordinary citizens.
With inflation rates soaring and the naira rapidly depreciating, the PDP asserts that Nigerians are in no position to absorb further economic shocks caused by rising fuel costs.
The PDP spokesperson highlighted the severe impact of the fuel price hike on the daily lives of Nigerians, noting that many are already unable to afford basic necessities such as food, medicine, and other essential items.
He criticised the government’s handling of the petroleum sector, pointing out the lack of transparency and accountability in the management of national resources.
According to Ologunagba, the continuous upward adjustment of fuel prices reflects an anti-people stance that ignores the plight of millions of Nigerians living below the poverty line.
In his statement, Ologunagba emphasised the broader economic implications of the fuel price increase, noting that it comes at a time when businesses are collapsing and the national currency is losing value at an alarming rate. He pointed out that the naira is now exchanging for over N1,600 to a dollar, and inflation has surged to over 34 per cent.
Ologunagba warned that the latest fuel price hike would likely drive these statistics even higher, further deepening the economic crisis facing the nation.
The PDP insists that the current administration’s approach to the petroleum sector has been marred by secrecy and mismanagement, with little regard for the welfare of the Nigerian people.
Ologunagba argued that with a more transparent and innovative management of resources, coupled with an enhancement of Nigeria’s national refining capacity, petrol prices could be significantly reduced.
He suggested that, under efficient governance, petrol should not be selling for more than N250 per litre in Nigeria.
The PDP’s rejection of the petrol price increase underscores its broader critique of the current administration’s economic policies, which it views as disconnected from the realities faced by average Nigerians.
Ologunagba urged the government to adopt measures that prioritise the wellbeing of the populace, rather than implementing policies that further burden those already grappling with economic hardship.
He called for a holistic review of the country’s approach to managing the petroleum sector, advocating for policies that promote transparency, accountability, and a commitment to alleviating the struggles of the Nigerian people.
The PDP’s call for a reversal of the fuel price hike is a rallying cry for a more people-centred approach to governance, one that acknowledges and addresses the profound economic challenges currently faced by the nation.
The party’s stance reflects a growing sentiment among many Nigerians who feel that the government’s policies are increasingly out of touch with the day-to-day realities of life in the country.
As Nigeria continues to grapple with economic uncertainty, the PDP’s message is clear: there is an urgent need for leadership that prioritises the needs of the people, safeguards their livelihoods, and fosters an economic environment where all citizens can thrive.
By rejecting the recent fuel price increase, the PDP is advocating for a more equitable and sustainable approach to economic management, one that puts the welfare of Nigerians at the forefront of national policy decisions.
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