The persistent hike in the price of fuel has continued to place an enormous burden on Nigerians, worsening the economy. With the persistent hike, one would expect the Federal Government to immediately put measures in place to cushion the effect and create a regulatory body. The fact that the removal of fuel subsidy is affecting Nigerians, especially the struggling masses, is no longer news.
Since the removal of petroleum subsidy last year, the price of fuel and other petroleum products has gone haywire with consumers at the receiving end as petroleum marketers charge different prices. The price of petroleum products, especially fuel, across the federation, is as varied as the colour wheel, which comes in different forms.
In truth, Nigerians are going through the worst economic hardship anyone can think of due to bad governance, and the present administration is not doing anything to ameliorate the condition of the people. It is public knowledge, not rocket science, that every time there’s an increase in the price of fuel, the price of everything else increases disproportionately.
While Nigerians were trying to adjust to the initial increase in the fuel price to N540 and its consequential effect on the cost of transportation, food, goods, and services, and the general cost of living, at the moment, the pump price of fuel oscillates between N890 and N1,000 in various cities across Nigeria. It is a daily agony to wake up to a new hike in fuel price while income remains the same. And unfortunately, the president is not saying anything. It means that he has lost control. And many Nigerians do not find the situation funny at all.
The president gloated about using the money saved from fuel subsidies to fund education and other critical sectors, but we have nothing to show for it. All we see and hear every day are policies that are geared towards further impoverishing the masses.
This continuous hike in fuel has placed an enormous burden on the already struggling masses, drastically eroding the purchasing power of ordinary citizens and making it extremely difficult for them to afford the necessities of life. The situation is just unbearable for millions of Nigerians who are already suffering. Many households keep struggling to afford basic needs and desperately seeking financial support because of the persistent rise in the cost of fuel.
The new pump price is suggestive of the fact that the price could rise to N1,500 or more per litre any time soon. It makes planning difficult and life uncertain. It’s not illogical to say that the government is clearly insensitive to the plight of Nigerians slipping into poverty daily as a result of its harsh policy directions. It has so far demonstrated a lack of interest in people-centred programmes that could help reduce poverty, economic inequality, and economic suffering.
With the way things are today, one cannot help but ask what President BolaTinubu’s renewed hope is all about. Is it even a plan by Tinubu and his acolytes to make the country worse than they met it? Today, we don’t even know if we are going backwards or maintaining the same spot.
The government must show real concern and take urgent actions to cushion the effect of its decision, which is causing agonies and greater financial strain for Nigerians struggling to meet their basic needs. Our survival and the sustainable development of our nation are at stake.
The Tinubu-led government should swiftly renew the hope of Nigerians, take action, and take measures to reduce the price of fuel for the good of Nigerians. We don’t deserve this continuous suffering amid plenty.
