The National President of Almushahid Initiative for Transparency and Accountability (AITA), Ambassador Aminu Abubakar Majidadi says the decision by the Nigerian National Petroleum Corporation (NNPC) not to continue to bear the subsidy burden as declared by its General Managing Director, Mele Kyari is a show of irresponsiveness of the government.
In a press release made available to Capitalwatch Media, Amb. Majidadi expressed his dismay that while the masses in Nigeria are faced with the hardship of high rise in prices of commodities in the market and other tariffs, the government through the NNPC is yet increasing the pains of Nigerians by the removal of subsidy making higher cost of petrol pump price.
Recall, Mallan Mele Kyari, the general managing director (GMD) of the Nigerian National Petroleum Corporation (NNPC), said the company cannot continue to bear the subsidy burden.
Speaking during a ministerial briefing on Thursday at the Presidential Villa, Abuja, Kyari said NNPC can no longer bear the burden of underpriced sales of premium motor spirit (PMS), better known as petrol, adding that the market price need to be implemented.
Consequently, the Petroleum Products Pricing Regulatory Agency (PPPRA) had released a template increasing petrol price to N212 per litre — but the template was later deleted.
Kyari said NNPC pays between N100-120 billion a month to keep the pump price at the current levels.“The price could have been anywhere between N211 and N234 to the litre. The meaning of this is that consumers are not paying for the full value of the PMS that we are consuming and therefore someone is paying that cost,” he said.
“As we speak today, the difference is being carried in the books of NNPC and I can confirm to you that NNPC may no longer be in a position to carry that burden.” Kyari mentioned.
On this regard, Majidadi said it is indeed embarrassing on the APC government that the masses who stood their grounds to make this government happen to be the victims of the failures of the government.
“As we all know, the prolonged high crude prices would ultimately feed into a climb in petrol’s landing cost — meaning an increase in fuel price. This would further weaken the purchasing power of Nigerians who are already battling with high inflation, unemployment and stuttering economic growth.”
“At this juncture, i am calling on the federal government of Nigeria, President Muhammadu Buhari and the NNPC to as a matter of concern reconsider their decision on subsidy removal to safe Nigerians and the common masses from the calamity that this action may cause.” Majidadi ended.