Masses can’t cope with petrol pump price, electricity tariffs hike – Gani Adams

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The Aare Ona Kakanfo of Yorubaland, Iba Gani Adams, says the suffering of the masses will increase significantly if the Federal Government fails to reverse its decisions on  recent increase in the pump price of petrol and electricity tariffs.

Adams, who doubles as the Leader of the Oodua Peoples Congress (OPC), disclosed this in a Thursday statement signed by his Special Assistant on Media, Kehinde Aderemi, in Lagos.

According to him, many Nigerians are finding it difficult to survive economic effects of the  COVID-19 pandemic.

“The hardship that will result from the increase in pump price of petrol and electricity tariff will, for a long time, affect the people of this country.

“With this sudden increase, the prices  of every commodity will definitely reach the rooftops and this will be more felt particularly, at a time like this when the world is still battling with the COVID-19 impasse.

“Electricity is life, I know how much I pay daily as tariff on electricity, an average and low income earner in  Nigeria cannot cope with the sudden increase,” he said.

The Yoruba generalissimo noted that the timing for hike in prices should be taken into consideration in re-addressing the issue.

“It is ill-timed, however, we strongly appeal to President Muhammadu Buhari and the National Assembly to reverse the price in the interest of the masses,” he said.

Adams urged the federal government to continue to protect the interests of ordinary Nigerians.

The Petroleum Products Marketing Company (PPMC) on Sept. 2, announced a new ex-depot price of N151.56 for petrol.

Ex-depot price is the price marketers buy products from depot owners and an increase or reduction in ex-depot price determines the pump price of petrol by marketers.

Going by the prevailing market fundamentals, the pump price of petrol is now between N158 and N162 per litre in the country.

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