Fuel and electricity hike: Protesters hit the streets of Osogbo
Disgruntled members of the Coalition for Civil Societies in Osun State took to the streets on Friday morning to protest against the hike in electricity tariff and petrol price. The protest began from Freedom Park, Osogbo around 8:30 am, DAILY TIMES gathered.
The protesters were seen carrying placards to show their grievances over the increase in electricity tariff and petrol price.
The protesters expressed their grievances stating that the “approval of new electricity tariff and increment in the pump price of petrol is the highest level of insensitivity and wickedness from President Muhammad Buhari-led All Progressives Congress government.”
Petrol prices have increased for three straight months, rising from N121.50–N123.50 per litre in June to ₦140.80-₦143.80 in July, ₦148-N150 in August and ₦158-₦162 in September.
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The Petroleum Products Marketing Company, a subsidiary of the Nigerian National Petroleum Corporation (NNPC) increased the ex-depot price of Premium Motor Spirit (petrol) on Wednesday from ₦138.62 per litre to ₦151.56 per litre but later reduced it to ₦147.67. The ex-depot price is the price at which the product is sold to marketers at the depots.
In other news, there was a shocking increase in electricity tariffs with effect from September 1, 2020. This comes three months after the tariff hike implementation slated for July 1 was sabotaged by the National Assembly, causing the distribution companies to postpone the date to the first quarter of 2021 due to the current economic challenges in Nigeria.
