Precious Nwonu, Enugu
The African Democratic Congress has raised concerns over the latest increase in petrol prices, warning that the rising cost of Premium Motor Spirit is deepening the economic pressure on Nigerian households and businesses.
The opposition party’s warning came as petrol prices at some Nigerian National Petroleum Company Limited retail outlets in Abuja rose to as much as N1,430 per litre, while prices in some locations were reported at about N1,470 per litre.
In a statement issued on Monday by its National Publicity Secretary, Bolaji Abdullahi, the ADC said the increase was already affecting the cost of transportation, food, electricity, education and other essential services.
The party said the impact of higher fuel prices went beyond motorists, arguing that increased transportation and operating costs were being passed on to consumers and businesses.
“President Tinubu has turned the petrol pump into an instrument of punishment for Nigerians,” the party said.
The ADC also expressed concern over reported increases in private school fees, with some schools allegedly raising charges by between 30 and 40 per cent.
It said the increases were adding to the financial burden on families whose incomes had not increased at the same pace as the cost of living.
“Parents are not earning 40 per cent more. Their salaries have not risen with the prices of fuel, food, rent, transportation and school fees,” the party said.
The opposition party, however, acknowledged that school proprietors were also facing higher operating expenses, including electricity bills, fuel costs, taxes, rent and staff salaries.
The ADC urged President Bola Tinubu’s administration to take urgent measures to ease the pressure on households and businesses, warning against interpreting Nigerians’ ability to cope with the situation as acceptance of government policies.
Meanwhile, checks at several NNPCL retail outlets in the Federal Capital Territory showed that petrol was being sold at between N1,395 and N1,430 per litre.
The latest prices represent increases of between N50 and N80 per litre, depending on the location.
The new pump prices were observed at NNPCL stations around Airport Junction, Gwarinpa, Kubwa Expressway, Wuse Zone 4 and other parts of Abuja and its environs.
However, Sunday Asefon, National Director of Students Engagement of the City Boy Movement and Senior Special Assistant to the President on Students Engagement, attributed the latest petrol price increase to international market pressures rather than subsidy removal alone.
In a statement titled, “The Pain Is Not From Subsidy Removal, It’s From Geopolitical Tensions Including the War in the Middle East,” Asefon linked the development to tensions involving the United States, Iran and Israel.
He argued that the rise in petrol prices from about N800 per litre at the Dangote Petroleum Refinery’s gantry to between N1,300 and N1,400 at filling stations could not be explained solely by the removal of fuel subsidy.
“The real enemy is the ongoing global geopolitical tension. The missiles being fired by the United States, Iran and Israel are the unseen hands shaping the global oil market,” Asefon said.
He pointed to instability around the Strait of Hormuz, a major route for global oil shipments, as another factor capable of affecting international crude prices and, consequently, domestic petrol costs.
According to Asefon, the Bank of England had warned that a complete disruption of the waterway could push global crude prices to between $100 and $130 per barrel.
The contrasting positions come as Nigerians continue to contend with higher fuel and transportation costs, with the latest pump price adjustments adding to concerns over the cost of living.