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(Editorial) Price increase of PMS and its effects on the economy



There is apprehension in the country over the recent fuel scarcity which led to an unexpected increase of petroleum products in the country.

However, the cause of the recent fuel scarcity and the unexpected increase in fuel is still unknown as the federal government is yet to remove fuel subsidy as announced last year.This has made citizens to question the economic policies of the country as it appears not to guarantee the welfare of the citizens. The general perception is that a proactive government has to be firm and formulate economy policies that are durable and effective.

It has been observed that Nigeria’s economic policies are weak and lack durability, it sometimes affected by change of government and unexpected increase of dollar exchange rate.It is our view that Nigeria must be firmed in her economic policies in the country and not to leave the citizens in a state of suffering and panic at all times.

The increase in one commodity affects the price of other commodities. There is no gainsaying that the recent fuel increase has affected the price of almost all commodities in the market. These effects are largely suffered by the citizens, and mostly low income earners. The government officials do not feel the negative impacts, having enough to play around. It is our view that this kind of administration is only fit for banana republic and undemocratic society, except that is where we are as a country.

We claimed to be developing but in actual sense we are not developing but stagnant. Developing means moving from one position to another at constant rate. But we are not moving in this case, but being completely stagnant. We cannot be duplicating policies year in year out and expect a change. It is not possible. Except we take a total overview of our economic policies and overhaul them. It is our firm position that the Nigerian government at all levels most make decisions that should guarantee the public interest if the citizens are not be considered refugees in neighboring countries in Africa in the near future.