By Kelechi Esogwa-Amadi
Amidst the lingering controversy still trailing President Bola Tinubu’s decision to remove petrol subsidy and the consequent increase in the price of fuel and foodstuff that have further plunged Nigerians into deeper hardship, the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has revealed that the federal government has not stopped payment of petrol subsidy.
According to the association, the federal government is still paying subsidies on petroleum products, despite Nigerians’ thinking that the practice has stopped.
This revelation was made by the national president of PENGASSAN and Trade Union Congress (TUC), Mr Festus Osifo, while speaking on a popular television in the country on Friday.
Substantiating his claim, Osifo said due to the cost of crude oil in the international market and the exchange rate, the federal government still pays subsidy for the product.
He explained: “They are paying subsidy today. In reality today, there is subsidy because as of when the earlier price was determined, the price of crude in the international market was somewhere around $80 for a barrel.
“But today, it has moved to about $93/94 per barrel for Brent crude. So, because it has moved, then the price (of petroleum) also needed to move.
“The only reason the price will not move is when you are able to manage your exchange rate effectively and you are able to pump in supply and bring down the exchange rate.
“So, if the exchange rate comes down today, we will not be paying subsidy. But with the exchange rate value and the price of crude oil in the international market, we have introduced subsidy.”
Meanwhile, the rising cost of foodstuff in the country is not going down well with residents of Rivers State as it has made life more unbearable for them.
Some of the residents who spoke to TPCN on Saturday in Port Harcourt complained that feeding was becoming more difficult for them and their families.
One of them, a mother of three, said she gets confused each time she goes to the market to buy foodstuff.
“This whole situation is making me go crazy. Everything is adding money, even ordinary pepper and salt. See vegetables, ordinary water leaves that used to be N100 two months ago, now they’re selling it N250. I went to the market yesterday (Saturday), and I was totally confused: I didn’t know which one to buy and which one to leave. The budget I made with the money I had was just useless. It didn’t go anywhere. What type of country is this? Do they want everybody to die? Then who will they be ruling? I don’t know where we’re heading to.”
For Dickson Uduak, a commercial driver, the state of Nigeria’s economy demands urgent action.
He said: “Please tell them (federal government) say we don’t tire in this country. Since they removed the fuel subsidy, our suffering don increased. We go buy fuel for a high price but at the end we no go see our money. If you charge passenger, dem go complain. Agbero (touts) go come collect the little one you get. You go market, everything dey cost. We just dey suffer; people dey die for hunger. Nobody dey talk. Labour (NLC) wey suppose to talk, no way. They say dem dey go strike, no way. From strike, they say na negotiation with the federal government – still no way. In fact, I no understand. wetin dey happens again.”
