From Uchenna Inya, Abakaliki
The Salt City Chamber of Commerce, Industry, Mines and Agriculture (SALTCCIMA) has kicked against the increase in pump prices of Premium Motor Spirit (PMS) and diesel which has worsened economic hardship across the country.
The chamber said the steady increase in the price of the products, has raised the operational cost of businesses in the nation.
President of the chamber, Chukwuemeka Eze stated this in a statement in Abakaliki, Ebonyi State capital.
He lamented the scarcity of the two products in many parts of the country has resulted to over 50% increase in the price of the products.
He noted that PMS and diesel remains the center-piece of businesses and living and averred that making the prices out of reach has direct impact on food security and all aspects on the common man.
Eze said “the chamber is aware of the ongoing PMS and diesel scarcity in many parts of the country, resulting to over 50% increase in the price of the products and has called for immediate reduction in the prices to save businesses from immediate collapse.
“Findings showed that pump prices of PMS and diesel sell around N1,300 /N1,400 and N1,4,00/N1,600 per litre respectively in Abakaliki and across major LGAs and cities in Ebonyi state.
“PMS as well as diesel, remains the center-piece of our businesses and living. Making the prices out of our reach has direct impact on food security and all aspects of our agrarian life in Ebonyi State. It is, therefore, difficult to continue to keep quiet in the midst of our suffering.
“We acknowledge the intention of governments at all levels to promote nano, micro, small, and medium scale enterprises (NMSMEs). Unfortunately, the good intention is being jeopardized by frequent increases in the prices of PMS and diesel, a practice that presents the biggest threat to commerce, industry, and agriculture.
*While PMS dictates commerce, diesel is the driver of production in the country. Our members fall into the NMSMEs and are the worst hit in this policy of regular increase in fuel prices.
“The coincidence of the increase and Dangote Refinery’s announcement that the Federal Executive Council will determine the prices of its products leaves a sour taste in the mouth.
“We further state that the provision on deregulation as contained in section 205 of the Petroleum Industry Act, 2021, expected to lead to the decrease in the prices of petroleum products, is not yielding positive results.
“SALTCCIMA emphasises the indispensable role of depot owners in Nigeria’s fuel supply chain. While there might be competitive elements in the market, collaboration and cooperation are essential for ensuring a stable fuel supply in Nigeria”
He called on the federal government to direct the NNPCL to reverse the announced increment in price of PMS and strengthen supply chain to make the products available for businesses’ optimal performance.
Eze also implored Ebonyi State Government to take further measures to alleviate the degradation of the people as according to him, businesses were folding up with farmers lacking storage facilities to hold their products and plan for internal sales and export.
