The Northern Christian Youth Professionals (NCYP) has raised concerns over the recent spike in the price of Premium Motor Spirit (PMS) following Nigeria’s shift from importation to local production and supply.
The group acknowledged this significant transition but noted the severe impact on citizens, as PMS prices soared from ₦617 to as high as ₦1,200 per liter in some areas. They highlighted that this increase worsens economic challenges and burdens an already struggling populace.
While applauding the establishment of the Dangote Refinery as a positive outcome of federal oil reforms aimed at reducing import dependency, NCYP stressed that this progress should not come at the expense of Nigerians, who have endured subsidy removal for the nation’s economic recovery. The group believes the current price surge contradicts President Bola Ahmed Tinubu’s vision when he removed the subsidy and urged him to take immediate corrective measures within the Nigerian National Petroleum Company Limited (NNPCL) to fulfill his promise of improving Nigerians’ lives.
NCYP also called on President Tinubu to appoint a dedicated Minister of Petroleum to oversee sector reforms, freeing him to address other pressing national issues. To ease public concerns about the NNPCL’s partnership with the Dangote Refinery, NCYP urged for greater transparency and clear communication from the NNPCL to restore trust.
The group reassured Nigerians of an imminent reduction in PMS prices, noting ongoing distribution efforts from the Dangote Refinery that will soon stabilize the market. NCYP remains committed to advocating for the public’s welfare and urged the government to prioritize the needs of its citizens during this transition.
