Following the assurance made by the Nigerian National Petroleum Corporation that there are no plans to increase the pump price of Premium Motor Spirit, popularly known as petrol, motorists are still on the edge that the Federal Government may still increase the price of the essential commodity.
An accountant with Leadway Assurance, Mr. Sarumi Adenekan, explained that going by its antecedents, the FG may increase the pump price.
According to him, if his fears are confirmed, it would create a hole in his pocket. “Prices of other commodities would increase and if my income does not go up, I will be forced to cut down on all expenses,” he said.
A fish farmer, Mr. Oladeji Fasoro, said the development would compound his woes, stressing that price of fish feeds had already been affected shortly after the initial price hike.
He added, “I spend about N30,000 on fuel every month just to pump water for the fishes, not to talk of other overheads. Cost of production has increased and will still increase if eventually there is further increase in fuel price.
“Meanwhile, customers are not willing to pay more than usual and it is difficult for farmers to keep fish for a longer duration of time than scheduled, it will amount to total loss as they will eat themselves.”
A lecturer, Department of Linguistics, Obafemi Awolowo University, Ile-Ife, Osun State, Dr. Ayoola Kehinde, lamented that after the initial increase in pump price, he had to re-strategise by alternating the days he goes to work.
“If the price increases, it will definitely affect the masses. If FG must increase the fuel price, it should put in place measures that will cushion the effects of such decision,” he said.