Increase in fuel price will make Nigerians poorer

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Former head of state, Gen. Abdulsalami Abubakar (rtd) has warned that an increase in the price of petrol will make many Nigerians poor.
Speaking at the 19th Daily Trust Dialogue in Abuja, on Thursday, Abubakar said the increase will worsen the challenges facing the masses.
There are indications that the federal government might increase the price of petrol to N302 per litre in February if the recommendation of the adhoc committee of the National Economic Council (NEC) is to be implemented.
The minister of finance, budget and national planning, Zainab Ahmed had hinted in October 2021, that the federal government would only cater for subsidy on petrol in the first six months of 2022 as it planned to deregulate the downstream oil and gas sector.
The Nigeria Labour Congress (NLC) had threatened to embark on strike if the federal government goes ahead with the proposed plan.
Commenting on the development, Abubakar said: “The expected fuel price increment will push more Nigerians into poverty.”
According to him, “Over 80 million Nigerians are still cut off by poverty. Nigeria faces a food crisis worsened by the global COVID-19 pandemic.”
Also commenting on the 2023 presidential election, Abubakar said regardless of the demands for zoning and challenges, Nigerians should unite and work together.
“Note that for the first time, southern governors are taking on their northern counterparts, each demanding the presidency to their regions.
“This election year calls for statesmanship and partnership to pull Nigeria out of the woods.
“Let us all remember that despite all the challenges and threats, Nigeria remains one. Our unity and large population are assets and strength”, the former head of state said.

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