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Home Government

NBA Requests a Reversal of Fuel Price Increases

Elizabeth OkandejibyElizabeth Okandeji
September 5, 2024
in Government
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NBA Requests a Reversal of Fuel Price Increases
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The Nigerian Bar Association (NBA) has sought an immediate reversal of the recent fuel price hike, claiming that if the development continues, it will exacerbate citizens’ poverty and hardship.

In a statement issued by its president, Mazi Afam Osigwe, the group stated that the huge and abrupt increase in petrol prices has thrown an unacceptable burden on ordinary Nigerians’ already stretched budgets, exacerbating the economic hardships experienced by millions across the country.

The statement reads: “The NBA expresses deep worry and strong criticism over the recent increase in the pump price of petrol by the Nigerian National Petroleum Company (NNPC), which has risen drastically from 617 Naira to almost 900 Naira.

The huge and abrupt increase has thrown an onerous strain on ordinary Nigerians’ already overburdened budgets, exacerbating the economic hardships that millions suffer across the country.

“The cascading repercussions of such a sharp increase in fuel costs on the cost of life, transportation, and vital commodities and services are quite concerning.

Many Nigerians are already dealing with inflation, unemployment, and other forms of hardship, and the added financial strain is simply unsustainable.

If permitted to continue, the price increase will exacerbate the citizens’ poverty and hardship.

“While the NBA recognises the importance of economic changes and the government’s responsibility to make difficult decisions, these decisions must be made with careful regard for their impact on citizens’ welfare.

The NBA sees this unexpected price increase as not only harsh, but also unreasonable at this point.

“In light of this, the Nigerian Bar Association urges the Federal Government to immediately suspend the implementation of this policy and engage in meaningful dialogue with all relevant stakeholders, including civil society organisations, labour unions, and economic experts, to explore more sustainable and less punitive alternatives.

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  • What they’re Saying
  • Bottom Line

What they’re Saying

“We urge the government to prioritise the welfare of its citizens, especially the most vulnerable, and to promote measures that alleviate rather than worsen Nigerians’ problems.

“The NBA is committed to maintaining the rule of law and will continue to work for the rights and well-being of all Nigerians.

“We are willing to work constructively with the government to develop a more equitable approach that ensures economic stability while protecting the interests of all Nigerians.”

Bottom Line

The Nigerian Bar Association’s (NBA) call for a reversal of the recent fuel price hike reflects the deep concerns shared by many Nigerians over the rising cost of living and the government’s handling of economic reforms.

The NBA’s position shows the fact that while tough economic measures may be necessary, they must be balanced with the welfare of citizens, particularly the most vulnerable. The sharp rise in petrol prices, from ₦617 to nearly ₦900, has immediate and far-reaching consequences, not only for transportation and goods but for every facet of daily life.

The association’s criticism resonates because the fuel price hike is happening at a time when Nigerians are already grappling with inflation, unemployment, and broader economic challenges.

The NBA is right to point out that abrupt increases without corresponding cushioning mechanisms can push more people into poverty and deepen the economic struggles of millions.

Tags: federal characterfuelincreaseNBANBA Requests a Reversal of Fuel Price IncreasesNewspriceReversal
Elizabeth Okandeji

Elizabeth Okandeji

A wordsmith with a passion for all things tech. I write captivating articles and unravel complex concept in the world of technology.

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