Press Release
The Nigerian Bar Association (NBA) condemns the recent increase in the price of Premium Motor Spirit (PMS) by the Nigerian National Petroleum Company Limited (NNPCL) to N1,030 per litre. This sharp rise, announced on Wednesday, further exacerbates the economic hardships faced by Nigerians, particularly those already struggling to make ends meet. Fuel price increases have a cascading effect on virtually every aspect of daily life in Nigeria. The costs of living, transportation, food, and other goods and services which have been on the continuous rise will become even more unaffordable.
On November 4, 2024, the NBA issued a statement strongly opposing the fuel price hike from N617 to N900 per litre. At that time, we highlighted the severe financial strain this imposed on the average Nigerian household, and the latest increase only compounds these difficulties. Such drastic adjustments to fuel prices, with no adequate mitigating measures or economic relief, signal a disturbing trend of disregard for the welfare of the Nigerian populace. The much needed tax breaks and social assistance programs are yet to be implemented. People are groaning and life has become more difficult.
The Nigerian Bar Association is particularly concerned that such decisions continue to be made without transparent consultation or dialogue with relevant stakeholders, including civil society and the private sector. The government’s seeming disregard for the suffering of the people is troubling. Nigerians deserve better— they deserve a government that prioritizes their well-being and takes into account the real-world implications of its policies on the populace.
We therefore call on the government to immediately take steps to reverse this increase and urgently implement measures that cushion the effect of rising fuel prices. This should include investment in local refining capacity, public transportation, reduced taxation of the income of low-income earners, repair of public roads, improved security so farmers can farm and evacuate their farm products, transparent fuel pricing mechanisms, and broader economic policies aimed at reducing poverty and providing sustainable solutions to Nigeria’s energy challenges.
The NBA remains committed to advocating for policies that promote justice, fairness, and equity for all Nigerians. We reiterate our position that the government must prioritize the welfare of the people and ensure that economic policies do not deepen poverty or further marginalize the most vulnerable in society.
Mazi Afam Osigwe, SAN
President, Nigerian Bar Association
