Persisting rise in energy and food prices in Nigeria remains a nightmare for every average Nigerian today. Prices of goods and services continue to rise inspite of assurances by the Bola Ahmed Tinubu led Federal Government that the situation was going to improve.
The recent hike in petrol pump price to N1000 or more, tends to worsen matters for the already beleaguered masses of the country.
Even the promise by the President in 2023, that some local refineries like the Port Harcourt refinery, would begin operations in 2024, appears to have been forgotten.
Fact is that prices of goods and services have remained high. Commodity prices appear to be worse-hit.
The situation gets worse anytime there is increase in fuel price.
The present situation calls for urgent measures which include licensing of private investors to establish Modular Refineries, as this will make Petrol and Diesel available at cheaper rates. Cheaper energy (fuel) will lead to cheaper prices of goods. On the other hand, high fuel price leads to high transport fares and high operational costs for businesses and industries.
The Tinubu led Federal Government should encourage the so-called ‘Illegal Refineries by licensing or authorising them to upgrade, undergo the necessary environmental impact assessment, and help to achieve the much-needed local refining of the country’s crude
rather than destroying them by tagging them “Illegal Refineries.”
President Tinubu must indeed demonstrate in words and action, that he actually cares for the welfare of the suffering Nigerians.Now,action must speak louder than words!