- Ogunbanjo has now called on the president to give a concession rate on the dollar to petroleum importers
- Oil marketers on Monday projected an imminent price increase due to naira depreciation, against the dollar
The National Parent Teacher Association of Nigeria (NAPTAN) has appealed to President Bola Tinubu to intervene and do everything possible to prevent petrol price from going up further and out of hand.
Mr Adeolu Ogunbanjo, National Deputy President of NAPTAN, told the News Agency of Nigeria (NAN) that the appeal was coming following an emergency meeting of the association on Monday in Lagos.
Recall that Tinubu, had in his broadcast to the nation in July, said the government was monitoring the effects of the exchange rate and inflation on gasoline prices, promising to intervene if and when necessary.
Oil marketers on Monday projected an imminent price increase due to naira depreciation, against the dollar.
According to the marketers, as long as the dollar keeps rising against the naira in the foreign exchange market, the price of fuel in the country will continue to increase.
However, Ogunbanjo has now called on the president to give a concession rate on the dollar to petroleum importers.
According to him, this will create an enabling environment whereby the current price of fuel in the country will remain the same.
“The removal of the petroleum subsidy we agree, align with it. However, unifying the naira at the same time is what is causing the hardship because anytime the dollar rises, fuel imports rise.
“It is upon this development that we are pleading and seeking for the intervention of our dear president to consider a concessionary rate for fuel importers.
“About 60 per cent are parents; September is around the corner, where school fees will be paid, so the Nigerian parents are crying, begging and kneeling for Mr President to hear us.
“He should do everything possible to stabilise the fuel price and make the current pump price not higher than what we are buying now, as anything contrary will increase hardship,” he added.
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