Direct NNPCL to restore old petrol price, Ajadi urges Tinubu

A chieftain of the New Nigeria People’s Party, (NNPP), Olufemi Ajadi, has appealed to President Bola Ahmed Tinubu, to direct the Nigerian National Petroleum Corporation Limited (NNPCL) to immediately revert to the old price of petrol in order not to aggravate the suffering of the Nigerian masses.

Ajadi’s reaction is coming on the heels of Wednesday’s increase in the pump price of Premium Motor Spirits (PMS), otherwise known as petrol as announced by the NNPCL.

He noted that the masses are still struggling to buy petrol at the old pump price, noting that the new price regime introduced by the NNPC, will suffocate Nigerians who are already suffering from the harsh effect of the bad economy in the country.

Recall that the NNPCL had increased petrol price to N1,025 per litre at various outlets across the country from its old price of N865 on Wednesday.

The recent development comes after the NNPC decided to terminate its exclusive purchase agreement with Dangote Refinery.

It was reported that the NNPCL is ending its exclusive purchase agreement with Dangote Refinery, opening up the market for other marketers to buy petrol directly from the refinery.

This open of the market for other marketers to purchase directly from the refinery, allowing for a “willing buyer, willing seller” pricing model, which this adjustment aligns with the full deregulation practices currently in place for petroleum products in Nigeria.

However, Ambassador Ajadi in a statement on Thursday described the NNPCL’s action as very insensitive to Nigerians’ plights.

He said this adjustments of the price by the NNPCL will further aggravate the suffering Nigerians are currently facing.

The statement reads in parts: “To their utter surprise, Nigerians received the shock of their life when they discovered the adjustment of price of petroleum products various NNPCL depot across the country.

“I urge the Federal government especially our President, who is also the Minster of petroleum, Senator Bola Ahmed Tinubu to help instruct the NNPC to revert to the old price.

“As an economist, President Tinubu should realise and be conversant of the multiplier effects of continuous increase in the price of petrol.

“Nigerians are already suffering and adding to their sufferings at this time may not augur well for the country.

“Even before today, people have resorted to trekking long distances because of the high transport fares.

“Prices of foodstuffs have gone up beyond the reach of an average Nigerian. The new action by the NNPCL will add more to the People’s suffering.

“I call on President Tinubu, elder statesmen and even the National Assembly to help do something on this insensitive action of the NNPCL.

“We can’t continue to suffer in the midst of plenty. Don’t suffocates the poor, the more, we should let them live.”

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