Fuel Crisis Worsens in Nigeria amid Mounting Economic Pressures
Ohanaeze Ndigbo, a socio-cultural organization in the South-East region of Nigeria, has sounded the alarm, warning that the country is on the brink of a fuel crisis that may lead to civil unrest if the Federal government fails to address the economic challenges sparked by the constant rise in the price of Premium Motor Spirit (PMS), also known as petrol.
Factional Secretary General of the organization, Mazi Okechukwu Isiguzoro, expressed his concerns in an exclusive interview with Media Talk Africa, stating that the relentless price hikes are indeed threatening the livelihoods of many Nigerians and undermining public confidence in presidential governance. Isiguzoro urged the Federal government to take immediate and decisive action to overhaul the management of the Nigerian National Petroleum Company Limited (NNPCL), which he believes is responsible for the crisis.
The latest price increase, announced on Wednesday, has worsened the hardship faced by citizens, with the pump price of petrol now standing at N1,030 per liter in the Federal Capital Territory and N998 per liter in Lagos State. Isiguzoro warned that if the situation is not brought under control, the consequences will be dire, including civil unrest and a breakdown of social cohesion.
In a bid to alleviate the crisis, Isiguzoro advocated for the establishment of Compressed Natural Gas (CNG) depots across zones of the country, urging local investors to get involved in the project. He also suggested that vehicles be converted to run on CNG or electricity, pointing out that these alternatives would be more cost-effective and environmentally friendly.
The organization called upon all Nigerians to unite in advocating for urgent changes that would restore integrity, efficiency, and accountability to national institutions, emphasizing that the current crisis is not just an economic issue but also a matter of national pride and dignity.
As the situation continues to unfold, it remains to be seen whether the Federal government will hearken to the warnings and take concrete steps to address the challenges. One thing is certain, however: the people of Nigeria are watching with bated breath, hoping for a solution to this debilitating crisis that has been draining their pockets and eroding their trust in the country’s leadership.
