The Nigerian Bar Association, NBA, has expressed strong disapproval of the recent hike in fuel prices by the Nigerian National Petroleum Company Limited, NNPCL.
The NBA President, Mazi Afam Osigwe, SAN, describe the increase from N617 to approximately N900 per litre as “unbearable” and “unsustainable” for Nigerians.
“This significant and abrupt hike has imposed an unbearable burden on the already overstretched finances of ordinary Nigerians, further aggravating the economic challenges faced by millions across the country,” the NBA President said in a statement.
The NBA is particularly concerned about the adverse effects of this price rise on the cost of living, transportation, and essential goods and services. This move, according to Osigwe, risks worsening inflation, unemployment, and poverty.
“The cascading effects of such a steep increase in fuel prices on the cost of living, transportation, and essential goods and services are deeply troubling,” he noted.
“Many Nigerians are already grappling with inflation, unemployment, and other forms of hardship, and this additional financial strain is simply unsustainable. If allowed to persist, this price hike will only deepen the poverty and hardship experienced by the citizens.”
Consequently, the NBA says the price hike is “harsh” and “unjustified” at this time, and has called on the Federal Government to “immediately halt the implementation of this policy” and engage in dialogue with stakeholders to “explore more sustainable and less punitive alternatives.”
“We urge the government to prioritize the welfare of its citizens, particularly the most vulnerable, and to pursue policies that alleviate rather than exacerbate the hardships faced by the Nigerian people,” Osigwe added.
The NBA has offered to engage constructively with the government to find a more equitable solution that ensures “economic stability while safeguarding the interests of all Nigerians.”
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