Society for the Youth and the Downthroden, SOYD, has described the recent price hike of petroleum motor spirit, PMS, by NNPC LTD as an act of sabotage and deliberate move to frustrate the newly inaugurated Government in Nigeria.
According to a press release issued yesterday by the President SOYD Comrade Ogwuche Gabriel, said that, this singular action by the NNPC LTD had shown clearly that the stakeholders in the oil sector are opposed to reforms and policies that was aimed at transforming the country and reducing poverty by using the nation’s oil wealth.
Ogwuche stated that the hiking of the price of pms by the NNPC LTD immediately after the president’s inaugural speech is not only unwholesome and affront on the power of Mr President to take decisions that affect the interest of the nation, but also in total violation of the act of law that necessitated the operations of NNPC LTD.
He pointed out that it is totally unacceptable and unlawful for NNPC LTD to unilaterally hiking the price of the petrol without due regards to the presidency and act of law, even at the time when the company could not show cause that it has been negatively affected.
Furthermore, he noted that it was also wrong to allow this act of illegality and deliberate exploitation of Nigerians by NNPC LTD to persist for a day under the watch of this administration that came with the message of hope. Saying that the price increament of the products has exposed the failure of the regulatory body to carry out its statutory responsibilities to secure the sector against arbitrary activities.
“Consquently, to achieve the desired result in the oil sector in Nigeria, it is expected that president Bola Ahmed Tinubu make maximum use of the enormous power he derived from the constitution of the Federal Republic of Nigeria through people’s mandate as the president of the country,” he also said.
He added that this is not the right time to be economical with the power and machineries of government at all.
