Fuel price increase will worsen current economic situation – PDP tells FG

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The Peoples Democratic Party (PDP) has cautioned the Federal Government against further increase in fuel price in the country.

PDP said this in a statement by its National Publicity Secretary, Mr. Kola Ologbondiyan in Abuja on Saturday.

Ologbondiyan said that Nigerians were already faced with economic hardship following the November 2020 increase in the price of fuel to N170 per litre, adding that further hike would worsen the situation.

He said that Nigerians might not survive a further fuel price increase with its attendant increase in cost of goods and services.

“This will worsen the current economic situation, where over 90 million citizen live in abject poverty, with an alarming 23 per cent unemployment rate and many more living below N500 a day,” he said.

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He said there was no justication in comparing Nigeria’s fuel price with those of other countries whose citizens have better purchasing power.

“With a N30,000 monthly minimum wage, which represents N1,000 daily wage, compared to a countries like Saudi Arabia with a monthly minimum wage of 3,000 Riyals; a daily pay of100 Riyals (N10,161).

“There is no foundation to base fuel price in Nigeria with that of Saudi Arabian where citizens earn ten times higher.

“Our party therefore rejects any contemplation towards fuel price increase,” he said.

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