The National Parent Teacher Association of Nigeria (NAPTAN) has urged President Bola Tinubu to intervene and do everything in his power to prevent petrol prices from skyrocketing further.
Mr. Adeolu Ogunbanjo, National Deputy President of NAPTAN, told the News Agency of Nigeria (NAN) that the request came after the organization held an emergency meeting on Monday in Lagos.
In his July address to the country, Tinubu stated that the government was monitoring the effects of the exchange rate and inflation on gasoline prices and would interfere if necessary.
Oil traders predicted an impending price increase due to the naira’s weakening versus the dollar on Monday.
According to marketers, as long as the dollar continues to rise against the naira in the foreign currency market, the price of fuel in the country would rise. However, Ogunbanjo has now urged the president to grant gasoline importers a dollar rate discount.
According to him, this will create an enabling atmosphere in which the country’s current fuel price will remain unchanged.
“The removal of the petroleum subsidy we agree, aligns with it. However, unifying the naira at the same time is what is causing the hardship because anytime the dollar rises, fuel imports rise.
“It is upon this development that we are pleading and seeking the intervention of our dear president to consider a concessionary rate for fuel importers.
“About 60 percent are parents; September is around the corner when school fees will be paid, so the Nigerian parents are crying, begging, and kneeling for Mr President to hear us.
“He should do everything possible to stabilize the fuel price and make the current pump price not higher than what we are buying now, as anything contrary will increase hardship,” he added.
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