The Conference of Nigeria Political Parties, CNPP, has said ordinary citizens of Nigeria will continue to face worsening poverty and hunger unless the government reverses the petrol subsidy removal and the negative effects associated with the devaluation of the Naira.
In a statement made available to DAILY POST in Taraba State on Friday, the Conference expressed skepticism over the recent cabinet reshuffle by President Bola Ahmed Tinubu’s administration, warning Nigerians not to expect significant improvements from the changes.
Signed by its Deputy National Publicity Secretary, James Ezema, the CNPP argued that the removal of the petrol subsidy, although desirable, was implemented too hastily without a workable plan to address the drastic reduction in purchasing power.
“Past administrations had made provisions to cushion the negative impacts of increases in the pump prices of petroleum products, but the current government had no concrete plans for about a year and five months now,” the CNPP noted.
The Conference also argued that the recent cabinet reshuffle has generated varied reactions, urging Nigerians not to harbor excessive expectations from these changes.
“Until there is a reversal of the petrol subsidy removal and the negative effects associated with the devaluation of the Naira, the ordinary citizens will continue to face worsening impoverishment and hunger.
“The high cost of diesel continues to negatively impact the pump price of petrol, as tankers use diesel to transport petrol across the country, leading to increased landing cost per litre,” the CNPP explained.
The CNPP highlighted the challenges faced by Small and Medium Scale Enterprises (SMEs) due to high fuel costs and electricity tariffs.
“The promised Renewed Hope Agenda of the President may end up as renewed hopelessness if the current administration does not immediately reverse the cost of petrol to its 2015 pump price and the exchange rate to before May 29, 2015.
“More companies are folding up, and SMEs are nearly non-existent as they cannot afford the cost of fuel to power their businesses due to the high cost of diesel and petrol, and the high electricity tariff is not helping them either.
“The government must take immediate steps to reverse the high cost of transportation in the country to arrest the increasing cost of food and basic necessities of life,” the CNPP advised.