Bode George, the former deputy national chairman of the Peoples Democratic Party (PDP), has called on President Bola Ahmed Tinubu to reduce the price of premium motor spirit (PMS) also known as petrol to N300 per litre between December and January.
Why Tinubu should reduce fuel price
According to Daily Trust, George urged Tinubu to reduce fuel price from December till January 2025, to reduce what he called the “anger and hunger” in the country.
The PDP chieftain stated that the president can come up with the cost implication of the reduction and seek donation from well-meaning and philanthropic Nigerians.
“Doing this, you would be sending a message of happiness to every home during this Christmas and New Year. This is a challenge I have thrown to him and I know he can do it,” the PDP leader said.
Fuel price hike: Bode George begged Remi Tinubu
He said the First Lady, Mrs. Oluremi Tinubu, can also contribute to the cost of reducing fuel price to N300.
Bode George added:
“If the First Lady could donate N1 billion to a university, she can donate as her contribution to fuel price reduction.”
Impact of subsidy removal
Legit reported that Tinubu ended the fuel subsidy on May 29, 2024, a move initially lauded but has led to spiral inflation.
Also, the naira’s value has depreciated and is currently trading above N1,680 in the official market and N1,700 in the black market.
Similarly, the price of fuel has increased by over 500% and is now selling at N1,100 to N1,300 per litre, depending on the location.
However, both reforms have been painful to Nigerians, shooting up the cost of living in the nation.
Hardship: Tinubu defends petrol subsidy removal
Earlier, Legit.ng reported that Tinubu explained that the twin policies of petrol subsidy removal and exchange rate unification were critical in addressing Nigeria’s worsening economy
He noted that his administration reforms have had painful consequences but were necessary for the nation’s long-term survival
At the convocation ceremony of the Federal University of Technology Akure, Tinubu also revealed how Nigerians were living a “fake life” before the petrol subsidy removal