A human rights group, Committee for Democracy and Rights of the People, CDRP, has reacted to the reduction of pump price of Premium Motor Spirit, PMS, popularly known as petrol, querying the economic rationale behind the federal government’s reduction of the price of Premium Motor Spirit (PMS) from N97 to N87.
The group described the move as not been in the interest of the Nigerian masses, parochial and politically motivated.
It made its position known in a statement released by its Acting National Coordinator, Comrade Saka Waheed.
“The natural economic expectation of our organization is that the price of petroleum would drop in conformity with the current global fall in the price of the commodity. Therefore, it is strange and parochial to hear that the federal government is celebrating a paltry N10 reduction.
“A careful review of government action thus far has clearly shown that the federal government has not learnt from the aftermath of January 1st 2012 subsidy protest. They are about to impose a reverse subsidy on the populace. In case the government does not know, the main message of the 2012 protest was that there is a limit upon which government can take people for granted” Comrade Saka stated.
The group emphasized that the government had no reason to keep the retail price of PMS at N87.
“The price of PMS must revert to N65 with immediate effect”, the group said.
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