Fuel price increase will further deepen the hardship and cost of goods and services in the country, Gen. Abdulsalami Abubakar warns government.
Former Head of State, Gen. Abdulsalami Abubakar (retd.) has cautioned the Federal Government of Nigeria against an increase in the price of petroleum considering the current economic hardship in the country.
He said this on Thursday, January 20, 2022, while speaking at the 19th Daily Trust Dialogue in Abuja.
Recall that the National Economic Council had recently recommended that fuel price be pegged at N302 per litre, invariably removing the controversial petroleum subsidy entirely.
The fuel price increase tension in country could be attributed to the International Monetary Fund (IMF) pressure on the government of Nigeria to remove fuel and electricity subsidies completely in 2022 and implement revenue-based fiscal consolidation.
The planned increase of fuel pump price has also pitched labour associations and civil organisations against government, as most have threaten to resist it and have called on Nigerians to come out to protest should government government go ahead with the implementation.
In 2014, under the government of president Goodluck Jonathan, there was wide-spread protest across the country, led by the opposition, under the name ‘OccupyNigeria’ , a well coordinated and supervised civil movement against the government for attempting to remove fuel subsidy. The plan was thwarted by the opposition, who are now in power.
