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Monday, 16 May 2016

NIGERIA FACES MORE OIL DOOM FOLLOWING NEW PUMP PRICE HIKE

NIGERIA:
NIGERIA FACES MORE OIL DOOM FOLLOWING NEW PUMP PRICE HIKE

A new fuel pump price has been introduced by the federal government of Nigeria. The introduction came following last Wednesday 11th May, 2016 meeting held at Aguda House, and chaired by the vice president Yemi Osibanjo, had other various stakeholders including the Leadership of the Senate, House of Representatives, Nigerian Governors Forum, Labour Union (comprising NLC, TUC, NUPENG, and PENGASSAN), in attendance, jointly increased fuel price from the formerly approved 86.50 Naira to 145 Naira. 

The new price which has additional 58.5 Naira difference now becomes the currently approved fuel pump price in the country. The Government's reason for the recent increase is said to be as a result of "the inability of importers of petroleum products to source foreign exchange at the official rate due to the massive decline of foreign exchange earnings of the federal government."

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The new hike quickly generated reactions as investigation shows. The following are headlines in Nigeria Newspapers and online: " Nigerians react to the new 145 naira fuel price" > www.nigerianeye.com > Home > Latest News in Nigeria. " Fuel Subsidy: Mixed feeling trail new fuel pump price of 145 >www.pulse.ng/local/fuel- subsidy-mixed-f... " Nigerians react to N145 fuel price". www.thenationonline.ng.net > Home >featured. Nigeria has a long history of fuel price hike as the following record shows. 

HISTORY OF FUEL PRICE INCREASE IN NIGERIA: 1. Yakubu Gowon 1973 -from 6 Kobo to 8.45 Kobo ( 70% increase) 2. Murtala Mohammed from 8.45 Kobo to 9 Kobo. 3. Obasanjo (1978) from 9 Kobo to 15.3 Kobo (70%). 4. Shagari from 15.3 Kobo to 20 Kobo. 5. Babangida from 20 Kobo to 39.5 Kobo; 39.5 to 42 kobo; from 42 Kobo to 6o kobo; from 6o kobo to 70 Kobo. 6. Shonekan from 70 Kobo to 5 Naira. 7.Abubakar N11 - N25 ; N25 - N20. 7. Obasanjo - N20 - N30 ;. From N30 - N22 ; N22 - N26 ; N26 - N42 ; N42 - N50 ; N50 - N65 ; N65 - N75. (8) Yar'Adua N75 - N65. 9. Jonathan N65 - N141 ; N141 - N97. 10. Buhari N97 - N86.50 ; N86.50 - N145.

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In all the increases, Obasanjo has the worst record. This is in addition to the fact that all the presidents both military and civilian lived big on oil money through hikes to enable them to sell their acquired oil blocks. All the presidents that have been in Aso Rock, whether living or dead had oil blocks allocation in addition to the 100 benefits each president enjoys while in office. This includes (a) having a building in any place of his choice including London and New York. You can now understand why a London tabloid - mail.co.uk recently accused Buhari of being a double standard because he has houses in London inline with the 100 benefits. (b) The second benefit reads that the president will have six medical doctors, 3 local and 3 foreign, etc.

Written by Ezza Heritage for Biafra Writers
Published By Ikechukwu Nwaorisa
BIAFRA WRITERS

1 comment

  1. Buhari is a criminal including all the useless past criminal presidents

    ReplyDelete

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