Petrol Price Increase Will Heighten Poverty In Nigeria – Abdulsalami

Former Head of State, General Abdulsalami Abubakar (Rtd), on Thursday warned against the increase in the pump price of fuel.

There are reports that Nigerians may soon pay more for Petrol after the National Economic Council, NEC, allegedly recommended that pump price should stand at ₦302 per litre.

Abubakar while speaking at the 19th Daily Trust Dialogue in Abuja warned that the increase will push more Nigerians into poverty.

Recall that a report by TheCable disclosed that the chairman of the council, Vice President, Yemi Osinbajo, made the recommendation in November 2021.

It was gathered that it is part of the plan of the Federal Government to deregulate the prices of Premium Motor Spirit (PMS) and eliminate monthly subsidy payments with provisions to ensure fair competition in the market.

A further report disclosed that the recommendations were made by NEC ad-hoc committee interfacing with the Nigerian National Petroleum Corporation (NNPC) on the appropriate pricing of PMS in Nigeria.

However, the office of the Vice President, Professor Yemi Osinbajo has debunked a trending story claiming the National Economic Council (NEC) led by the Vice President has recommended ₦302/litre as the new price of petrol in Nigeria.

Speaking on the matter, the spokesperson for the Vice President, Mr Laolu Akande stated on Wednesday that at no time did his principal or NEC make such a resolution or recommendation to the federal government.

He added that discussions are still ongoing on the issue of fuel subsidy removal in the country and the claim in the viral report should be disregarded by Nigerians.

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