WHY WE OPPOSED GEJ's FUEL PRICING IN 2012 AND SUPPORT PMB's IN 2016 - Ekujumi

"President Buhari may not be abundantly blessed with the intellectual capacity to change Nigeria as he hopes to, but his weaknesses cannot become anointing oil for making the former President a saint overnight. No, it can’t."

FOR THOSE WHO WANT TO KNOW WHY WE OPPOSED GEJ's FUEL PRICING IN 2012 AND SUPPORT PMB's IN 2016 - Read this Enlightening Piece on the New fuel price regime - "My take on fuel-subsidy removal by the Buhari Administration" - by: Nelson Ekujumi - May 13, 2015

Flashback to 1 January 2012
Goodluck Jonathan removed fuel subsidy on New Year’s Day in 2012. This took fuel price from N65 to N141 at filling stations. This led to massive protests by civil-rights groups, labour unions, and Nigerians generally. APC, the opposition party at that time, took political advantage of the situation by identifying with the suffering and criticizing the Jonathan administration for removing subsidy. Goodluck Jonathan eventually backtracked. Fuel subsidy was restored.

PRESS STATEMENT ON CURRENT FUEL SITUATION IN NIGERIA BY MINISTER OF STATE FOR PETROLEUM RESOURCES, IBE KACHIKWU

We have just finished a meeting of various stakeholders presided over by His Excellency, the Vice President of the Federal Republic of Nigeria.

The meeting had in attendance the Leadership of the Senate, House of Representatives, Governors Forum, and Labour Unions (NLC, TUC, NUPENG, and PENGASSAN).

The meeting reviewed:

1. The current fuel scarcity and supply difficulties in the country.

2. The exorbitant prices being paid by Nigerians for the product. These prices range on the average from N150 to N250 per litre currently.

3. The meeting also noted that the main reason for the current problem is the inability of importers of petroleum products to source foreign exchange at the official rate due to the massive decline of foreign exchange earnings of the federal government. As a result, private marketers have been unable to meet their approximate 50% portion of total national supply of PMS.