It has been requested that President Bola Ahmed Tinubu take immediate action to stop the nation’s fuel prices from rising continuously.
In response to concerns that the price of the good would increase once more in August, the National Parent Teacher Association of Nigeria (NAPTAN) issued the appeal on Monday.
According to a previous article by Anaedoonline.ng, some marketers projected that the cost of Premium Motor Spirit (PMS), also known as petrol or fuel, would probably increase once more in August.
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The reports have subsequently raised concerns as they may cause more problems for Nigerians, who have yet to recover from the increase in the cost of goods and transportation as a result of the most recent increase in the price of petrol by the Nigerian National Petroleum Corporation (NNPC) Limited.
Journalists were informed over the weekend by sources in the oil industry that there are strong signs that another round of hikes in petrol prices, the third in ten weeks, are anticipated.
In response to the findings, NAPTAN urged President Tinubu to take all appropriate measures to stop the fuel price from rising further.
Adeolu Ogunbanjo, National Deputy President of NAPTAN, stated that the appeal came after an emergency meeting of the association on Monday in Lagos when speaking with press on Monday (today).
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Ogunbanjo pleaded with the president of Nigeria to offer importers of petroleum a dollar concession rate immediately. He claims that by doing this, a favourable climate will be created in which the nation’s present fuel prices may be maintained.
He said: “The removal of the petroleum subsidy, we agree, aligns with it. However, unifying the naira at the same time is what is causing the hardship because anytime the dollar rises, fuel imports rise.
“It is upon this development that we are pleading and seeking the intervention of our dear president to consider a concessionary rate for fuel importers.
“About 60 per cent are parents; September is around the corner when school fees will be paid, so the Nigerian parents are crying, begging and kneeling for Mr President to hear us.
“He should do everything possible to stabilise the fuel price and make the current pump price not higher than what we are buying now, as anything contrary will increase hardship.”
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According to Anaedoonline.ng, President Tinubu stated in a live broadcast to the country in July that the government was watching the impact of inflation and exchange rates on petrol prices and will take action as needed.
On the other hand, oil marketers predicted an impending price increase on Monday due to the naira’s devaluation versus the dollar.
Marketers predict that the cost of petrol in the nation will keep going up as long as the dollar’s exchange rate gains strength against the naira.
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