Business News

Just In: SERAP condemns hike of petrol price, calls for immediate reversal

The Socio – Economic Rights And Accountability Project (SERAP) has condemned the hike yesterday by the Nigerian Government of ex-depot price of petrol from N147.67 per litre to N155.17 per litre.

According to a statement issued by the organisation, “The frequent hike in fuel price is entirely inconsistent with the Nigerian Constitution and international obligations and must be immediately reversed.

“According to the Nigerian Constitution 1999 [as amended], Nigeria’s resources should be used to ensure the maximum welfare, prosperity, freedom and happiness of every citizen on the basis of social justice and equality, AND NOT to finance a life of luxury for politicians.

“With the latest hike by the Petroleum Products Marketing Company, a subsidiary of @NigeriaGov owned NNPC, petrol price has increased by about four times in 2020. It had risen from N121.50–N123.50 per litre in June and N140.80-N143.80 in July and N148-N150 in August”.

error: Content is protected !!