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The Forum of South-east Academic Doctors (FOSAD) has called for immediate reversal of the hike in pump price of fuel in Nigeria, warning that it would further exacerbate the economic hardship faced by the citizens if nothing is done about it.
The group said the recent hike in price of petrol to about N1000 per litre, has triggered widespread hardship, pushing many citizens further into poverty and creating additional strain on businesses and households across the country.
Join our WhatsApp ChannelFOSAD in a statement signed by its President, Dr Stephen Nwala, and Secretary General, Dr Uzor Ngoladi, said the timing of the price increase is wrong, as Nigerians are still grappling with the economic fallout from fuel subsidy removal, rising inflation, and the ongoing challenges posed by unemployment and underemployment.
“The decision to raise fuel prices at this critical juncture is not only insensitive but also counterproductive to the government’s stated goals of economic recovery and poverty alleviation even when the national minimum wage increase is yet to be implemented by both state and federal government,” FOSAD stated.
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The group urged the Federal Government to take immediate steps to reverse the fuel price hike and explore alternative measures to address the economic challenges facing the country. “It is imperative that the government prioritises the welfare of its citizens, particularly the most vulnerable, who are disproportionately affected by such policies.
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“We call on the government to engage in meaningful dialogue with stakeholders, including labor unions, civil society organisations, and the private sector, to develop a more sustainable approach to managing the nation’s resources and ensuring energy affordability.”
FOSAD further stressed the need for “greater transparency in the pricing mechanisms of fuel products and a comprehensive review of the subsidy regime to ensure that any policy changes are equitable and do not impose undue hardship on the populace.”
“Nigerians deserve a government that listens to their concerns and acts in their best interest. The current fuel price hike only serves to deepen the economic woes of the people and threatens to destabilize the social fabric of the nation. FOSAD stands in solidarity with all Nigerians affected by this decision and demands swift action to reverse the fuel price increase and alleviate the suffering of the masses.”
