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    Home » Blog » NBA Calls on Federal Government to Reverse Pump Price Hike

    NBA Calls on Federal Government to Reverse Pump Price Hike

    Obinna OsuagwuBy Obinna OsuagwuOctober 11, 2024 Economy

    On Friday, October 11, the Nigerian Bar Association (NBA) urged the federal government to reverse the recent hike in fuel pump prices. The association stressed that government policies must be crafted with sensitivity to the challenges Nigerians are facing.

    In a statement released by NBA President Mazi Afam Osigwe (SAN), the association expressed deep concern over the new pump price of N1,030 per litre, stating that it “further exacerbates the economic hardships faced by Nigerians, particularly those already struggling to make ends meet.”

    The statement read: “Fuel price increases have a cascading effect on virtually every aspect of daily life in Nigeria. The costs of living, transportation, food, and other goods and services, which have been continuously rising, will become even more unaffordable.”

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    Recalling a previous statement from November 4, 2024, when the NBA opposed the fuel price increase from N617 to N900 per litre, Osigwe highlighted the association’s concerns: “At that time, we highlighted the severe financial strain this imposed on the average Nigerian household, and the latest increase only compounds these difficulties. Such drastic adjustments to fuel prices, with no adequate mitigating measures or economic relief, signal a disturbing trend of disregard for the welfare of the Nigerian populace.”

    He continued, “The much-needed tax breaks and social assistance programmes are yet to be implemented. People are groaning, and life has become more difficult.”

    The NBA also criticised the decision-making process, noting the absence of transparent consultation with stakeholders: “The government’s seeming disregard for the suffering of the people is troubling. Nigerians deserve better — they deserve a government that prioritises their well-being and considers the real-world implications of its policies on the populace.”

    The NBA called on the government to “immediately reverse this increase” and implement urgent measures to alleviate the impact of rising fuel prices. These measures should include “investment in local refining capacity, public transportation, reduced taxation of low-income earners, repair of public roads, improved security for farmers, transparent fuel pricing mechanisms, and broader economic policies aimed at reducing poverty and providing sustainable solutions to Nigeria’s energy challenges.”

    In conclusion, the NBA reaffirmed its commitment to advocating for policies that ensure justice, fairness, and equity, reiterating that “the government must prioritise the welfare of the people and ensure that economic policies do not deepen poverty or further marginalise the most vulnerable in society.”

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    Fuel Price Hike Mazi Afam Osigwe NBA
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    Obinna Osuagwu
    Obinna Osuagwu

      Obinna Osuagwu is a skilled fact-checker, copyeditor with a keen eye for detail and years of experience in the energy sector, focusing on operational efficiency and compliance. Osuagwu holds a degree in Petroleum and Gas Engineering.

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