Friday, May 2, 2025

Nigerians groan as new PMS pump price raises cost of living

Must read

Ibrahim Ramalan
Ibrahim Ramalan
Ibrahim Ramalan is a graduate of Mass Communications from the Ahmadu Bello University (ABU) Zaria. With nearly a decade-long, active journalism practice, Mr Ramalan has been able to rise from a cub reporter to the exalted position of an editor; first as Arts Editor with the Blueprint Newspapers before resigning in 2019; second and presently as an Associate Editor of the Daily Nigerian online newspaper. He can be reached via ibroramalan@gmail.com, or www.facebook.com/ibrahim.ramalana, or @McRamalan on Twitter.
- Advertisement -
tiamin rice
tiamin rice

Some Nigerians are complaining about the high cost of living occasioned by the recent hike in the pump price of petrol.

They spoke with the News Agency of Nigeria on Sunday in Abuja.

An economic expert, Dahiru Garba, said that the fuel price hike from N897 per litre to N1, 030 per liter will push more Nigerians into poverty.

tiamin rice

Mr Garba said that the sudden increase in the pump price of petrol by the Nigeria National Petroleum Company Limited (NNPC Ltd.) and marketers was beyond a simple fuel price adjustment.

He said that it would have a far-reaching impact on Nigeria’s private sector, trade and the already suffering Nigerian masses.

He said that without government interventions, the economic and social repercussions of the price hike would be severe and long-lasting, pushing more people into poverty.

READ ALSO:   CSO raises alarm over conflict in pipeline security surveillance in Niger Delta

“What we will witness is the immediate high cost of transport, which will lead to higher cost of food, businesses will suffer, some may fold up and inflation will rise.

“In the long term, it could pose challenges for small and medium-sized enterprises (SMEs) and the agricultural sector,” he said.

He urged the Federal Government to acknowledge these implications and consider measures to reduce the impact.

He suggested targeted incentives for energy efficiency, a halt to wasteful expenditure, and reducing cost of governance.

“Without such interventions, the economic and social repercussions of this price hike could be severe and long-lasting, pushing more people into poverty,” he said.

A retired widow, Mary Chatta, complained about the high cost of living.

READ ALSO:   Nigerian Customs Kano Command generated N30.2bn revenue in 3 months -- Comptroller
whatsApp

“My children are not working, they still depend on my pension which has not been increased according to the minimum wage act.

“Imagine buying one bag of rice for over N100,000. We no longer feed daily, I am scared and I do not know how I will survive,” Ms Chatta said.

She urged the government to look into the economic situation in the country.

“I know that the government can do something for the masses to make it easier, but pensioners also have to survive.” Chatta said.

A frozen food trader, Oyiza Malik, said that the increase in petrol prices has added to her transportation cost.

“I am struggling to afford necessities like food and rent. I am finding it difficult to balance my budget,

“We expected so much from this government, but what we are seeing now is the least we expected.

READ ALSO:   Nigerian govt committed to ensuring safe, quality blood services – Official

“The situation is even more dire for low-income households who are already struggling to survive on meager earnings,” she said.

A taxi driver, Emeka Uzor, said that the price hike had taken away the little savings he had, as he no longer make profit.

“I will just stop this business and look for something else to do.

“Passengers have been complaining that the price of transport is too high, but what choice do we have when we are buying fuel for N1,250 per litre.

“From Banex to Gwarimpa is now N500 and it used to be N200, from Kubwa to Berger between N1,000 to N1,500 which is not supposed to be so,” Uzor said.
NAN

- Advertisement -

More articles

- Advertisement -

Latest article

- Advertisement -