Fuel price: Group seeks urgent steps to mitigate inflationary effects on less priviledged

A group, Advocacy for Positive Behavioral Patterns Initiative (AFPBPI) has urged President Bola Tinubu to urgently take immediate action to reduce fuel prices and mitigate the inflationary effects on the less priviledged.

Mr Bamidele Mann, Director of Campaign Team of the AFPBPI, made the call while addressing newsmen in Abuja.

“The initiative is deeply concerned over the recent increase in fuel price from N539 to N617 per litre and the impact of such an increase on the less privileged in our society.

“The recent increase in fuel prices has further burdened the Nigerian population, particularly the impoverished segments of society.

“This rise has not only escalated the cost of transportation, affecting daily commutes for individuals and families, but has also triggered an overall increase in the prices of essential commodities.

“As a result, the vulnerable members of our society are struggling to make ends meet, compromising their basic needs, and undermining their quality of life,” he said.

He acknowledge that managing fuel prices was s a complex issue influenced by several factors, such as global market dynamics and economic consideration.

Mann said that the initiative firmly believed that it was the responsibility of the government to implement effective measures to alleviate the financial burden on the less privileged and restore stability to the economy.

He urgently called for policies that prioritise the welfare and well-being of the people.

“We call upon the president to initiate dialogue with relevant stakeholders, including industry experts, economists, and representatives from civil society organisations.

“The dialogue will help to develop comprehensive strategies that address the root causes of escalating fuel prices while curbing inflation.

“By adopting proactive measures, such as implementing transparent pricing mechanisms, exploring alternative energy sources, and promoting investments in the petroleum sector, the president can steer the nation towards sustainable economic growth and social equity,” he said.

According to him, it will not only provide immediate relief to the less privileged but also lay the foundation for a prosperous and inclusive future for all Nigerians.

He said that the initiative would support the government’s efforts in tackling the issue.

“We are committed to collaborating with relevant ministries, agencies, and organisations to promote awareness, conduct research, and develop effective interventions aimed at improving the lives of the most vulnerable members of society,” Mann said.

Source: News Agency of Nigeria