Centre for Transparency Advocacy (CTA) has asked the Nigerian National Petroleum Corporation Limited (NNPCL) to offer an explanation on how it arrived at the current price of Premium Motor Spirit (PMS) popularly known as fuel.
The NNPCL had on Tuesday announced a new price regime for fuel, a situation that has seen pump price jump from N185 per litre to N537 per litre.
However, in a statement on Thursday, CTA Executive Director, Faith Nwadishi said Nigerians deserve to understand the methodology and reasoning behind the new pricing structure.
The Group described as unfortunate the unilateral decision by the NNPCL to increase in petrol pump prices without substantial dialogue or consultation with key stakeholders, disregards the welfare and economic realities of Nigerian citizens
Nwadishi said while the CTA supports the government’s decision to remove the subsidy in the interest of economic growth, such policy transitions should be carefully managed, considerate of the populace, and not impose undue hardships.
She described the abrupt action of the NNPCL as “grossly insensitive and counterproductive in the face of our challenging economic situation.”
The statement reads further, “The CTA strongly urges the NNPCL to address these concerns and provide comprehensive clarifications to Nigerians without delay. With the June 30th deadline for the fuel subsidy removal approaching, it is crucial for citizens to fully grasp the current happenings and the government’s future plans.
“We stand with Nigerians during this challenging period and commit ourselves to protecting their interests. The CTA will relentlessly advocate for transparency, fairness, and social justice in all sectors affecting the livelihood of Nigerians.”