The Conference of Nigeria Political Parties (CNPP) has warned that ordinary Nigerians would continue to face rising poverty and hunger until the government reverses the removal of petrol subsidies and the detrimental impacts of the Naira’s depreciation.
In a statement sent to journalists in Taraba State on Friday, the Conference voiced pessimism about President Bola Ahmed Tinubu’s recent cabinet restructuring, advising Nigerians not to anticipate major gains from the changes.
The CNPP, led by its Deputy National Publicity Secretary, James Ezema, stated that the withdrawal of the petrol subsidy, while desired, was carried out too quickly without a feasible plan to manage the substantial loss in buying power.
The CNPP said.
“Past administrations had made provisions to cushion the negative impacts of increases in the pump prices of petroleum products, but the current government had no concrete plans for about a year and five months now.”
The Conference also highlighted that the recent cabinet upheaval has elicited a variety of emotions, asking Nigerians not to place unrealistic expectations on these changes.
According to CNPP:
“Until there is a reversal of the petrol subsidy removal and the negative effects associated with the devaluation of the Naira, the ordinary citizens will continue to face worsening impoverishment and hunger.
“The high cost of diesel continues to negatively impact the pump price of petrol, as tankers use diesel to transport petrol across the country, leading to increased landing cost per litre.”
The CNPP emphasized the issues that Small and Medium-Sized Enterprises (SMEs) experience as a result of rising fuel costs and energy rates.
“The promised Renewed Hope Agenda of the President may end up as renewed hopelessness if the current administration does not immediately reverse the cost of petrol to its 2015 pump price and the exchange rate to before May 29, 2015.
“More companies are folding up, and SMEs are nearly non-existent as they cannot afford the cost of fuel to power their businesses due to the high cost of diesel and petrol, and the high electricity tariff is not helping them either.
“The government must take immediate steps to reverse the high cost of transportation in the country to arrest the increasing cost of food and basic necessities of life,” the CNPP advised.
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cc: Daily Post Ng
