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Buhari asked to reverse electricity, petrol price hike

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Tiamiyu Saheed Oluwatosin
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calendar-icon Posted on: 2020-09-06 22:11:12
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The Yoruba One Voice (YOV), a coalition of Yoruba groups, has condemned the hike in electricity and fuel prices.
Distribution companies implemented new electricity tariff on September 1, while the federal government announced new ex-depot price of petrol on September 2.
The pump price of petrol has increased to N160 says N163 per litre from N140 says N143.
In a statement on Sunday, YOV Director of Communication, Zacheaus Somorin, accused President Muhammadu Buhari administration of being inconsiderate, despite the adverse effects of COVID-19.
Noted that many countries have been giving transparent and visible stimulus packages to their citizens, he decried that the Nigerian government decided to compound the problems of its people.
“The government is insensitive to socio-economic plights and the impact of COVID-19 on Nigerian People and businesses. The President’s wife’s trip abroad for treatment is an indictment on leadership. Economic recovery should be the focus to avoid recession”, Somorin stated.
YOV noted that Nigeria was under intense pressure by the World Bank to make “undesirable reforms” before another loan is granted.
The coalition stressed that while it is necessary to make reforms that would boost the economy, the government should not carry out policies at the detriment of its citizens.
To forestall a deep economic dive, the body urged the Buhari administration to enforce tax laws, recover all unremitted VAT, track unpaid duty and make judicious use of funds the Economic and Financial Crimes Commission (EFCC) recovered.
“The loan from the World Bank would create more problems than solutions. YOV advises the federal government to release money into the economy as stimulus packages. This would keep businesses going, prevent inflation and recession”, Somorin added.
The spokesman reminded authorities that increment in the costs essential necessities on top of hardship Nigerian People face already concerning a pandemic could result in high suicide rate, family violence, reduced savings/purchasing power, mental health breakdown, among others.

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