Pump price hike insensitive, callous ― OYC tells FG

The Oodua Youth Coalition (OYC) has condemned the recent increase in the price of Premium Motor Spirit (PMS) by the federal government, describing it as a callous and insensitive decision.

The federal government had on Wednesday jacked up the pump price from N150 to N152, which propelled the Independent Petroleum Marketers Association of Nigeria (IPMAN) to direct its members to start selling petrol for N162 per litre across the nation.

The group in a statement made available to Tribune Online by its National President, Oluyi Akintade Tayo on Thursday noted that the latest increase would further add, ” to the burden of the already impoverished and marginalized Nigerians. ”

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He said, ” While the Nation is still battling with the neck-breaking and pocket unfriendly increase in the price of basic commodities important for human existence and the effect of the novel coronavirus on people’s income, increasing the price of PMS and Electricity tariff is a further proof that the leadership of the Federal Government is either unaware or uninterested in happenings in the country.

” Considering the importance of PMS and electricity to the running of the Nigeria local economy, the increase will further cause a hike in the cost of production for industries producing commodities which will affect the price of commodities in the market.”

OYC called on the President Muhammadu Buhari-led government to with immediate effect reverse the decision on the new pump price, ” or face total lockdown in the west.”