The Persistent Hike In Fuel Price And The Agonies Of Many Nigerians, by Adesina Julius Oluwamayokun

The persistent hike in the price of fuel has continued to place an enormous burden on Nigerians, worsening the economy.

With the persistent hike in PMS prices, one would expect that the federal government would immediately put measures in place to cushion the effect and put in place a regulatory body.

The fact that the petrol subsidy removal is really affecting Nigerians, especially the struggling masses, is no longer news.

Since the removal of petroleum subsidies last year, the price of PMS 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 premium motor spirit (PMS), across the federation is as varied as the color 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 to the percentage increase in the fuel price.

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 N650 and N880 in various cities across Nigeria.

It is a daily agony to wake up to a new hike in fuel prices while income remains the same. And unfortunately, the president is not saying anything. It means that he has lost control. And many Nigerians are not finding 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 empoverishing 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 basic necessities of life. The situation is just unbearable for millions of Nigerians who were 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 pump price could rise to N1,000 or more per liter any time soon. It makes planning difficult and life uncertain.

It’s not a gainsay that the government is clearly insensitive to the plight of the growing number 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-centered programs that could help reduce poverty, economic inequality, and economic suffering. At the same time, this government is inconsistent in the application of its “austerity measures,” as it is pursuing outrageous, unsustainable, unjustifiable, and reckless spending at the expense of the welfare of its citizens.

With the way things are today, one cannot help but ask what Tinubu’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? Because, today, we don’t even know if we are going backward or maintaining the same spot. But if this is how Tinubu hopes to renew Nigerian hope and turn the country around, then we are on a journey to nowhere.

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 to meet their basic food 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.

Nigerians do not deserve this continuous suffering in the midst of plenty.

Adesina Julius Oluwamayokun writes from Igbeti, Oyo State.