The new price regime
@Agate101@delak2k@FoluShawThe new price regime
The FG has come out to announce that there will no longer be subsidy for petroleum marketers.
We have been told that the new regime allows for any Nigerian to source for forex to bring in PMS (Premium motor spirit) into the country. This they say will go a long way in preventing diversion of the subsidised product, increase availability of the product and increase government spending on other critical sectors of the economy.
Well, as sweet as this may sound, it does not go down well with most Nigerians including the Buhari loyalists. Not because the idea itself is not beneficial but because the timing is totally wrong.
The average worker has to think of how to get to work with increased transport fare, the traders will think of the cost of transporting their goods, the business centre owner has to consider the cost of fuelling the generator.
This is coming at a time when Nigerians cannot boast of 5hours of electricity a day on the average over a 1year period. It’s no gainsaying that the hardship meted out by the increment will only be felt by the lower class (knowing that the middle class no longer exist). The public office holders and politicians will have their vehicles and generating sets fuelled at no cost to them from the coffers of the Nigerian treasury.
However, while we have no choice than to accept the new price regime (because it will be favourable in the long-term), we implore the federal government to consider certain factors to alleviate the sufferings of the average Nigerian.
NNPC should at least supply the locally refined PMS to their own retail terminals nationwide at the normal cost of production which is much cheaper and this should be sold to transporters on a preferential basis to reduce the hike in transportation costs.
Also, extortion imposed by union officials on Nigerian roads and parks should be discontinued as this is reflected in the cost of transportation.
Most importantly, the minimum wage should be reviewed to accommodate the inflation experienced in recent times as we all know this is long overdue since the crashing of the Naira on the parallel market.
We pray the change we are paying so much for will end up being beneficial to the common man. God bless Nigeria and our president as well as his economic team.