Aareonakakanfo of Yorubaland, Iba Gani Adams, has condemned the continuous hike in the prices of Premium Motor Spirit (PMS) otherwise called petrol, saying its effects were biting very hard on Nigerian citizens and had put the entire nation on its knee.

The Yoruba generalissimo said this on Thursday in his reaction as Nigerians have been pouring out their minds on the incessant price increase of petroleum products in the country, insisting that Nigerians can no longer bear the hardship.

Iba Adams in a statement signed by his Special Assistant on Media, Mr. Kehinde Aderemi, said the situation had added to the plights of ordinary Nigerians, saying such skyrocketing increase had never happened in nation’s history.

This was just as he noted that there was no oil-producing country like Nigeria in the entire world where the citizens were groaning in pain over insensitive increase in the prices of fuel, describing the situation as unfortunate and unexpected.

“This situation is becoming very unbearable. There is no country in the world like Nigeria (a major producer of oil) where the citizens are groaning in pain over insensitive increase in the prices of fuel.

“We know how much we buy fuel before now. Nigeria is yet to survive the subsidy removal that led to the sudden increase in the price of fuel from N187 to N500 per litre before it was jerked up now to N617 per litre within two months. It is painful. No sensitive government would be happy when the citizens are suffering.

“It is imperative for me to speak up, especially, with what we experience now in the country. It is unfortunate, this is not what we expect from a
president that is coming from the Southwest region of the country,” he said.

“As a product of this democratic struggle; a political activist and the father of the nation, President Bola Tinubu must know that the citizens are his children. Therefore, a father must work on the best way to solve the problem of the children.

“With the present situation in the country, three state governors have declared a three-day work-free day for civil servants in their respective states.

“The national leadership of the College of Education Academic Staff Union (COEASU) had directed its members nationwide to attend their respective workplaces only two days a week.

“The new directive was premised on the recent price hike on fuel, and this has worsened the cost of transportation, food and other essential commodities increasing by over 300 percent,” he added.

Iba Adams further condemned the fuel price increase, noting that all over the world, many things, including Power, Healthcare, Food Items, among other necessities had been subsidized in the interest of the mass of the people. Power, health, food and other necessities of life are being subsidized.

According to him, an ordinary Nigerian worker travelling from Mainland to Island on a weekly basis would spend 25 litres of fuel per day, amounting to over N15,000; N75,000 per week, and over N300,000 a month.

Iba Adams described the present situation the country had found herself as too bad, calling on President Bola Ahmed Tinubu “to retrace his step in order to save the country from this hardship,” even as insisted that all over the world governments still subsidize critical sectors of the economy, including energy because of productivity’s sake as, according to him, n”o economy survives high cost of energy.”

“That is too bad for Nigeria and Nigerians. Energy, including petrol, diesel, or gas needs to be subsidized because of productivity’s sake. No economy survives high cost of energy.

“It is the responsibility of every government to subsidize food-that is what is called food security. When the government subsidizes energy that is energy security.

“Presently Germany has subsidized electricity, and it would cost 5 billion Euros for its industrial output in 2023. What it means is that the government of Germany has taken up about 80 percent of the cost from industrialists and major manufacturers in the country.

“This is added to the fact that in German government subsidized food, energy, health and housing and they have an enduring welfare and social security scheme that caters to the needs of vulnerable and indigent citizens of the country,” Adams said.

“As at 2022, China has subsidized energy with 130 billion dollars. And also, over 100 billion dollars is being used to subsidize energy supply in Britain.

“All over the world, governments are subsidizing energy to boost productivity. It is sad that presently people are losing their jobs, more businesses are collapsing, companies are folding up and tension is heightened in the country.

“Hyperinflation is setting in and it shows nothing but the insensitivity of the new administration.

“Nigeria runs an informal economy and PMS is the most important energy source in Nigeria, therefore, President Tinubu has to retrace his step in order to save the country from this hardship,” he concluded.

Credit to: Tribuneonlineng.com