Petrol Price increment as Buhari’s 1st year anniversary gift to Nigerians
By Mr Ayodele Fayose
Despite his electoral promise to reduce petrol pump price from the N87
per litre that he met it, President Mohammad Buhari increased the
price to N145! With this increment, Buhari has further impoverished
Nigerians should be reminded that on April 14, 2015, President
Buhari’s ally and former Minister of Petroleum and Energy, Prof. Tam
David-West, told Nigerians that Gen. Mohammed Buhari (who was then
President-elect), will reduce the fuel pump price from N87 to N40 per
litre. Buhari did not debunk this statement made by his friend and
Also, when the Peoples Democratic Party (PDP) government of Dr
Goodluck Jonathan reduced the petrol pump price from N97 to N87 per
litre in January 2015, former Lagos State Governor who is now Minister
of Works, Power and Housing, Mr Babatunde Fashola said N10 reduction
of the petrol pump price was too low and that Nigerians will get a
better deal under Buhari. Fashola tweeted on January 18, 2015; “On PMS
price reduction by N10. Now they listen. Oil the raw material drop
over 50%, N10 is just about 10%. Good try but Nija can get a beta
In rewarding Nigerians for electing him as president, President Buhari
opted to increase petrol pump price by N58.50!
The first justification of the increment was removal of subsidy. But
Nigerians were later stunned when the Vice President, Prof Yemi
Osinbajo said pump price of petrol was increased because Nigeria was
In other words, President Buhari increased petrol pump price because
the country was broke and it needed to shore up its revenue base. The
N58.50 added to the previous pump price of N86.50 was an Indirect Tax
imposed on each litre of petrol purchased by Nigerians.
Simply put, the Federal Government is indirectly collecting N58.50
naira tax from suffering Nigerians on each litre of petrol they buy.
Buhari is no doubt acting like the proverbial Agbalowomeri Baale
Jontolo (A king that exploit his extremely poor subject to further
It is on record that on May 2 this year, the federal government, in
the Petroleum Product Pricing Regulatory Agency (PPPRA) Template
released in Abuja, told Nigerians that it was subsidising petrol at
N12.62 per litre.
In 2012 when the Dr Jonathan removed fuel subsidy and increased petrol
price to N141 per litre, crude oil was selling at $111 per barrel.
If not wickedness, how can petrol price be increased to N145 per litre
when crude oil is now selling at $49 per barrel?
Increasing petrol pump price by N58.50 when the federal government
claimed it was subsidising the product at N12.62 per litre is clear
wickedness on the part of President Buhari.
In the history of Nigeria, increase in price of petrol has never been
as high as it was done by Buhari, putting Nigerians in severe hardship
as the product affects every sector of the economy.
Too bad, those who opposed removal of fuel subsidy in 2012 and funded
the Occupy Nigeria protest are the ones canvassing support for this
Buhari’s wicked one year anniversary gift to Nigerians.
The labour unions are now completely cowed, dashing completely hope of
the common people of Nigeria.
Interestingly, this is not the first election promise by APC/Buhari
that have been jettisoned since they got into office. The N5,000
unemployment benefits promised the downtrodden was derisively put down
by this President as “largesse” with the president spurning the
emotional plea of his own wife to the contrary. To add salt and insult
unto injury, he travelled abroad to make the statement.
Despite the mindless and indefensible hike in fuel price, the
commodity is still not available. Minister of state for Petroleum says
there is no forex to pay for fuel import; yet there is forex to
indulge Buhari’s foreign-trip profligacy.
Presidential spin doctors and APC chieftains labouring to hoodwink the
people speak glibly of how so-called deregulation will make products
available, reduce cost through competition and the interplay of market
forces as well as encourage private sector to build more refineries.
But thank God who loves Nigerians so much, the lies of these people
was by divine arrangement, I suppose, revealed by no less a person
than the junior minister Ibe Kachikwu himself when he said importation
of fuel continues till 2019.
Nigerians should be reminded that the manner of hardship being faced
now was also faced during Buhari’s first coming as a military dictator
when people had to queue for essential commodities. Now, Nigerians
can’t even afford common tomato to prepare soup.
So Nigerians you have heard the truth: Under Buhari/APC, it is almost
certain that our suffering will continue till 2019.
Nigerians, remember I warned you before Buhari was elected; I have
been warning you since Buhari became president and I am warning now
that if nothing is done urgently, the economy of Nigeria will
May the good Lord help us but as they say “heaven helps those who help
Mr Ayodele Fayose
Governor, Ekiti State