Nigerians are beginning to experience the effect of the recent increase in the pump price of Premium Motor Spirit (PMS) by the Federal Government.
This is evident as commercial bus and motorcycle operators across the country have increase their fares per drop, a situation that has hit hard on members of the general public.
OSUN DEFENDER reporter, who monitored the development in Osogbo, observed that the sudden hike is attributed to the new price of the product.
The Federal Government had through the Petroleum Products Marketing Company (PPMC), announced the full deregulation of the sector, with the fixing of the new ex-depot price of PMS to N151.56, giving marketers the leverage to sell at preferred rates.
Findings indicated that transport fare per drop for a minibus, which stood at N50 in major cities across the state before, now has been increased to N70-N100, while motorcyclists have joined the queue with over 50% hike on the previous rate per distance of the trip.
Speaking with OSUN DEFENDER, a mini bus operator in Osogbo, Mr. Waliu Asim, said the sudden hike in transport fares was inevitable for transporters.
Asim explained that while the hike is necessary for them to maximise profit, the new fuel price regime is unpalatable to the current economic realities.
“It is sad that at a time we are still recovering from the pains of COVID-19, the Federal Government decided to do this. It is totally wicked and callous for the government to do so.
“The increase in our fares is not that we are selfish. We need to maximise profit. Unlike before, N300 cannot buy 2 litres of petrol again. IPMAN has said they would be selling for N160. We cannot do anything. The people should go all out and talk to government to shelve this decision. It is untimely and barbaric.”
A commercial motorcyclist, who operates within Osogbo and Ede metropolis, Dada Adewale, expressed displeasure over the development.
Adewale, who spoke with newsmen, said despite the hike, the increase in fuel pump price has a multiplier effect on other sectors of the economy.
“Yes, we have increased our fares. For example, Osogbo to Ede by bike formerly goes on the average of N300 to N400. Now, we charge N500 and it is non-negotiable. Some of my colleagues have even begun charging N600 since last Friday. The economic situation is harsh. The removal of subsidy should not have come at a time like this.
“We are calling on the government to come to our aid. It is not easy. People don’t even take Okada again. They prefer mini-buses. Some do not even need transport for covering short distances again. We have less patronage. If we continue to stay with this hike, all other factors of production will go up and we will have to pay more.”
Mr. Tony Ogunrinde, a public affairs analyst who spoke to OSUN DEFENDER, expressed his disappointment over what he described as the insensitivity of the Nigerian government to the welfare of the citizenry.
Ogunrinde, stated that the increase in fuel price has culminated in an unprecedented surge in the price of goods and services throughout the country, which needs an urgent review.
“This hardship is huge. In fact, this government is insensitive to our plight. We have never had it so bad. This is what they complained about when they were in the opposition. It is not fair to us. Outright deregulation of the petroleum industry is coming at a wrong time.
“It is as if this government wanted to impoverish us. Electricity tariff and fuel price went up in a spate of 24 hours. It is a very barbaric and unpopular decision. It will affect us more. COVID-19 inflicted a lot of hardship in the land. Yet, the government decided to add its own on us.
“Currently, the price of commodities has soared. As we speak, foodstuffs, transport fares and so on are up. In the next few weeks, inflation and hardship will bite harder. The economy is weak and it would get weaker. I don’t even know anything the government has done for us since the start of democracy. No electricity, No infrastructure, dilapidated health system, poor security and a host of others. The government rather than to help is making us pay more. We pay for services we do not get. We complain and you tell us to endure more. It is sad and unfair to us.”
