Respected industrialist in Anambra State, Chief Akai Egwuonwu, has called on the Federal Government to consider the plight of Nigerians and reverse the recent hike in the prices of petroleum products especially Premium Motor Spirit, otherwise called petrol, given the current economic hardship in Nigeria......Read The Full Article>>.....Read The Full Article>>
Chief Egwuonwu, who is the Chairman and Chief Executive Officer of Anambra Rice and Stine Rice Mills Limited, made the call yesterday during an interview in Awka.
He said that the sudden increase in the pump price of petrol to ₦1,030 per litre, has inflicted excruciating pains to commuters following a rise in transportation costs and subsequent rise in prices of other commodities across the country.
He noted that since many Nigerians could not meet their basic needs when the pump price regime was below the current price, that it made no sense for the steady fuel price increase to the detriment of the Nigerian masses who he said had suffered enough over the last few months.
Egwuonwu insisted that there is an urgent need for the intervention of the National Assembly to give the masses a breathing space and save the economy from collapse.
“Since the Executive arm of the government has not seen the need to stop this madness, the lawmakers should not fold their hands and watch Nigerians wallow in agony because of this excruciating petrol pump price steady increase.”
“This has made life unbearable to many especially those in the low-income group. And there is nothing else expected of the lawmakers other than to apply the instrument of checks and balances to checkmate the ugly trend, if the Executive cannot rescue the situation.”
“We know that there is economic downturn globally, but nothing justifies a situation where the price of fuel will be this high in a country that produces the product. In all government policies the interest and welfare of the masses must come first.”
“I call on the Federal Government to do the needful, to do all within its powers to suspend the increased cost of petrol and even cooking gas to provide a relief and that has to be done without further delay, “Chief Egwuonwu said.
The industrialist, who is also a philanthropist, said since the development has created huge financial burden on ordinary Nigerians, that it should be addressed with the urgent attention it requires to stop the economic strangulation and other societal ills including crime rate that might increase as a consequence.
He insisted that government should pay attention to the complaints of the masses and take steps to review the fuel policy which he said has affected Nigerians negatively or provide other cushioning alternatives outside food items and monetary gifts which the Federal Government has adopted.
Chief Egwuonwu has the view that if the pump price of fuel is reduced considerably that it would have a more far-reaching effect to reduce transportation cost and prices of other commodities which he noted had been skyrocketed as a result of high cost of fuel.
He also joined other well-meaning Nigerians to call on the Federal Government to explore alternative energy sources and diversify the country’s energy mix to reduce reliance on petrol and gas, promoting renewable energy solutions that are more sustainable and affordable in the long term.
Chief Egwuonwu further noted that the issue of high cost of fuel had adversely affected industrial growth and job creation with its attendant increase in crime rate across the nation.
He further tasked all levels of governments to adopt policies that could alleviate the financial burden on their citizens, such as tax waivers or levies on transportation and goods affected by high fuel costs.
