By Dr Sagir Sadisu Buhari FCIA
As Nigerians struggle to make ends meet, the proposed increase in petrol prices looms like a dark cloud, threatening to worsen their plight. The country is already grappling with a plethora of economic challenges, including inflation, unemployment, and poverty. In this context, a petrol price hike would be a devastating blow to the majority of Nigerians who are barely surviving.
The government of President Bola Ahmed Tinubu must exercise extreme caution and consider the far-reaching implications of such a move. A petrol price increase would have a ripple effect, leading to higher transportation costs, increased food prices, and a surge in the cost of living. This would disproportionately affect the poor and vulnerable segments of society, who are already struggling to access basic necessities like food, shelter, and healthcare.
Furthermore, a petrol price hike would undermine the government’s efforts to revitalize the economy and promote economic growth. It would lead to reduced consumer spending, lower economic activity, and decreased investment. This, in turn, would exacerbate the already high levels of unemployment and poverty, creating a vicious cycle of economic hardship.
Instead of increasing petrol prices, the government should explore alternative solutions that balance economic needs with the welfare of citizens. Some possible options include:
- Diversifying the economy to reduce dependence on oil exports
- Implementing measures to reduce fuel consumption and promote energy efficiency
- Investing in renewable energy sources to reduce the country’s reliance on fossil fuels
- Providing targeted support to vulnerable segments of society to mitigate the impact of economic hardships
I implore the government of President Tinubu to spare Nigerians from the devastating effects of a petrol price hike. Let’s work together to find a more compassionate and sustainable solution that prioritizes the welfare of citizens and promotes economic growth and development.
God bless Nigeria.
Dr Sagir Sadisu Buhari FCIA buharisageer@gmail.com
