Anger and condemnation greeted the directives of the Pipeline and Product Marketing Company (PPMC) advising petroleum marketers to sell Premium Motor Spirit, also known as petrol, within the range of N168 per litre to N170 per litre with effect from yesterday.
The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), The Lagos Chamber of Commerce and Industry (LCCI), the Nigeria Employers’ Consultative Association (NECA) and the opposition Peoples Democratic Party (PDP), all expressed anger and disappointment with the rise in the price.
The LCCI and NECA, in separate interviews with THISDAY urged the federal government to accelerate the implementation of pro-poor policies that would cushion the impact of deregulation of the prices of petroleum products on Nigerian masses.
The Director General of LCCI, Dr Muda Yusuf, told THISDAY that there is an urgent need for the government to “cushion the effects of petrol price increases by scaling up investment in mass transit systems. Moreover, the power sector recovery programme should also be accelerated to reduce the dependence of Micro, Small and Medium Enterprises (MSMEs) on petrol powered electricity generators.” (Thisday)