From Frying Pan To Fire As NNPCL Raises Petrol Pump Price

BY ISAAC ASABOR

Since President Bola Ahmed Tinubu took office on May 29, 2023, Nigerians’ economic hardships have only worsened. While the population was already dealing with rising living costs and dwindling purchasing power, recent developments have exacerbated the situation, leaving many wondering if the country’s predicament has worsened, from frying pan to fire.

The Nigeria National Petroleum Company Limited (NNPCL) raised petrol prices from ₦568 to ₦855, ₦897 per litre, depending on location. The move undoubtedly sent shockwaves through every sector of the economy and kept tongues wagging, even as people began to wonder if President Tinubu’s administration had a human face. In a country where transport costs determine the price of almost every good and service, this increase feels like an unforgivable betrayal to a populace already on its knees.

It should be noted that when Tinubu took office, there was a glimmer of hope that his administration would provide relief to millions of Nigerians suffering from inflation, unemployment, and poverty. However, rather than easing the burden, the government’s policies have exacerbated the crisis. The elimination of fuel subsidies, which many saw as necessary for long-term economic stability, has resulted in immediate and painful consequences. Prices for goods and services have risen dramatically, making the average Nigerian’s daily life a test of endurance.

Indeed, many Nigerians believe that the recent increase in petrol prices is the final straw. Public transport costs have risen, making it even more difficult for workers to commute, while businesses that were already dealing with higher operational costs are now facing a new challenge. This domino effect is expected to push more Nigerians into poverty, widening the disparity between rich and poor.

The federal government’s justification for the increase has been met with scepticism and outrage. Officials argue that the increase is required to stabilise the economy and reduce the burden of subsidies on government budgets. For example, Mr Bayo Onanuga, President Tinubu’s Special Adviser for Information and Strategy, has defended the increase, which went into effect on September 3, 2024, and raised the average cost to N897 per litre. He suggested that the operationalisation of the Dangote Refinery and other local refineries could provide relief in the long run by stabilising fuel prices.

However, for the millions of Nigerians who can barely afford a meal, this explanation falls flat. Everyone is wondering how much longer we can stand it.

The feeling of frustration and helplessness is palpable. Many are questioning whether this government understands the realities on the ground or if it is completely disconnected from the daily struggles of the masses. The perception is that, while the elite continue to live comfortably, the rest of the country is being pushed to the edge.

As Nigerians brace for even tougher times ahead, one can not help but wonder if the worst is still to come. The phrase “from frying pan to fire” seems appropriate to describe the current situation; each new policy, rather than alleviating suffering, appears to add fuel to the fire.

The federal government must reassess its approach and consider the people’s immediate needs. Otherwise, the nation’s social fabric may unravel, resulting in unrest and instability. The question remains: how much longer will Nigerians have to endure before their voices are truly heard?

Without a doubt, yesterday’s sudden increase in petrol prices in Nigeria serves as a stark reminder of the government’s insensitivity to its citizens’ plight. Many Nigerians, who are already struggling under the weight of economic hardships, see this hike as a step backwards. The cost of living has risen dramatically in recent months, making necessities increasingly unaffordable for the average person. The government’s latest move only adds to the public’s despair, eroding trust in their leaders.

This price increase, which comes at a time when the country is dealing with inflation and high unemployment rates, demonstrates a lack of empathy and concern for the people’s well-being. The government’s decision to raise fuel prices without offering any relief or alternatives to the public demonstrates a lack of humanity in policymaking. It implies that the government is more concerned with balancing its books than with citizens’ daily struggles, as they are now forced to choose between fuel and food.

Ordinary Nigerians’ voices reflect a widespread sense of anger and frustration. “This is not governance; it is punishment,” says Chukwudi, a commercial bus driver from Lagos. “How do they expect us to survive when everything else increases except our income?” Another resident, Fatima, a small business owner in Ogba, Ikeja, Lagos, laments, “We voted for change, but all we got was suffering. The government is pushing us to the limit.” These sentiments are shared throughout the country, where many people feel abandoned by those in power.

The implications of this price increase are far-reaching. Transportation costs will rise, affecting the price of goods and services across the country. Small businesses, already struggling to stay afloat, may be forced to close, resulting in additional job losses. The ripple effect will undoubtedly exacerbate the current economic challenges, making it even more difficult for the average Nigerian to make ends meet. The government’s actions appear to be pushing the country to a breaking point, with widespread discontent threatening to tear apart the social fabric.

In light of these developments, it is clear that the government must rethink its strategy. There is a need for policies that are both economically sound and socially responsible. Nigerians deserve a government that listens to them and humanely makes decisions. The current trajectory is unsustainable, and if not addressed, it may lead to even more unrest and instability in the country.