Energy:Tinubu’s Endless Increase In Pump Price Of Petrol To Raise Revenue; Middle Class Wiped Out

By Our Reporter

When Koworola  Bucknor-Akerele, President Bola Ahmed Tinubu’s Deputy governor, when he was the governor of Lagos state,  had  revealed that the Nigerian President ‘’does not take advice and seems to know it all’’, not many people took her seriously.

Given that his diehard followers see him as assertive President   may have informed why over the last one year he has exhibited  his style of Leadership by taking some  tough economic decisions that marginalizes  the Nigerians  just as he middle class have been completely wiped out from the society. One of such tough economic policies was the abrupt removal of fuel subsidy, the only thing enjoyed by the people from the government , barely hours after assuming office  as the President and Commander-In- Chief, C-In-C ,of the Armed Forces of the Federal Republic of Nigeria, on May 29, 2023.

Another of such tough economic decisions that was said to have been taken by him, acting on the script that was said to haven handed over to him  by Muhammadu Buhari, immediate past Nigerian Leader a the unification of both the official and the parallel, popular, black market exchanges , which is still telling on the economy as the prices of imported goods and locally produced Agricultural products have continued to rise on a daily basis, meaning the country’s economy ha slipped out of his hand.

The former Lagos state governor, who believes is a tactical politician, may have known that the Organised Labour  would not take it from him  if the hardship persists that  his government has approved    to pay N70.00 as the country’s national minimum wage  with a promise  ‘’not to increase  the pump price of Premium Motor Spirit, PMS, popular, petrol ‘’.

The Leadership of the Organised Labour, may have been arm-twisted to agree to the N70,000 dangled before them as the new national minimum wage as  against  the N250,000.00 demanded  with a caveat to expect an increase the pump price of petrol which could have  made nonsense of the government gesture.

Jaero: NLC, president, insists NNPCL, must reverse pump price of petrol

 Joe Ajaero, led Nigerian Labour Congress, NLC, who had been in the eye of the storm over his opposition to the government continued increase in the pump price of MPS, to further impoverish the workers had faced allegations of ‘’cybercrime, financing and sponsoring terrorism by the Department of State Services, DSS, to weaken him. 

 Until his arrest at the Nnamdi Azikiwe International Airport, Abuja, Federal Capital Territory, FCT, on his way  to London, United Kingdom, on official engagement, the Nigerian Police Force,  NPF, had invited him for interrogation   over allegations of terrorism financing , cybercrime, subversion , criminal conspiracy  and treasonable felony, to stop him from mobilizing the workers against the high cost of living in the country due the government harsh economic decisions.

Unknown to the Labour Leaders, Tinubu and his economic team had an agenda   to use the N70,000.00 National Minum Wage Agreement with labour to get them off their neck . The new salary structure   may have resulted  in consequential adjustments to public  servants at all  levels of the civil service, meaning that the government will need about N4 trn, monthly to settle workers monthly pay, which the economy  may not be able to carry and still remain resourceful to provide basic infrastructural facilities in the country.

The Labour Leaders may have known that they have played into Tinubu’s hand when he rebaptised Federal Inland Revenue Services, FIRS, under the leadership of Zacch Adedeji, as Nigerian Revenue Services, NRS.The President’s economic Management team, acting out a script of the World Bank and the International Monetary Fund, IMF, may have gone back to the drawing board on how to raise additional revenue to run the affair of the government. This may have informed why the Nigerian National Petroleum Corporation, NNPC, now baptized Nigerian National Petroleum Company Limited, NNPCL, with the passage of the Petroleum Industry Bill, PIB, by the National Assembly, and signed into Law, by former President Buhari and now being implanted, had bowed to pressure from the Authorities to further increase the pump price of petrol, described in Labour circles a betrayal of trust.

Kyari: GMD,NNPCL, manipulating Nigerian Petroleum products market

 Garba Deen Muhammad, Chief Corporate Communications OFFICER, CCCO, NNPCL, may have spoken the mind of Melee Kolo Kyari, the Company Managing Director,   when he said that they have adjusted their pump prices of PMS.  Based on the adjustment, the NNPCL, had pushed up the pump price in FCT, from  897.00 to N1,030. Per litre,   from N855 to N998.00, in Lagos axis,  N1,070,  in the north east, N1,025.00 in other south western states of Ogun, Oyo, Osun, Ekiti, Ondo  and N1,045 .00 in the south east  and N1,075.00 in the south south states of Akwa Ibom, Cross river, Edo , Delta, Rivers and Bayelsa   

The NNPCL, spokesperson, had said that the increase in the pump price of petrol was in line with the current market realities’’, adding that the product prices will continue’’ to fluctuate to reflect markets dynamics’’.

Muhammad, may have tried to calm frayed nerves when he said that the Limited Liability Company is ‘’committed to ensuring ceaseless supply of the products to forestall scarcity. nationwide  Appealing to Nigerians  for their continued ‘’patronage , support and understanding  during  this time of  change and growth’’  it may have fallen on deaf ears as Labor Leadership ask the government to reverse the  petrol price or throw the country into crisis.

The hard fighting, NLC, President  who had promised to protect workers interest during his electioneering Capaign ,to lead the workers,   was said to have demanded immediate reversal  of  the petrol price hike ,as it is produced locally by Dangote refinery, a subsisdiary of Dangote Indusries and not being imported. The NLC, President had said that” it as illogical for a private firm  to be the one determining  the prices of petroleum products across the country .

Dangote refinery selling products to NNPCL, Marketers as an exporting firm

An aggrieved Ajaero, who may be heading for another conflict with the security operatives has described as laughable  that the government  has continued  to jack up  the pump price of petrol   virtually every every month  just rake in revenue  when’’ the new  minimum wage  was yet to be  implemented’’.

He may have alluded to Tunubu’s betrayal of trust when he declared that Labour is dismayed   by the latest increase in the pump price of petrol   without commensurate capacity of Nigerians or mitigatory measures.

He noted that following the logic of market forces, Labor finds it an aberration that a private company like NNPCL, is the one fixing prices and projecting itself as a hegemonic monopoly. It was not surprising why  the no nonsense NLC, President , who is not tired of being a guest of the security agencies   has challenged  the government  to go to the drawing  board  and present  to them  with a blue print  for a conclusive economic growth  and national development  instead of this  spasmodic  and holism  and palliative policies.

Ajaero, who could not hide his feelings was emphatic that  the latest  wave  of increase  in the pump price of petrol,  has grossly altered  the calculations of Nigerians  once again  at a time  they were  reluctantly  coming to terms  their new realities.              

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