Home Oil & Gas CUPP condemns fuel hoarding, hiked pump prices

CUPP condemns fuel hoarding, hiked pump prices

Fuel scarcity - lagospost.ng

The Coalition of United Political Parties (CUPP) has condemned the sudden hoarding of petrol, which has now led to skyrocketed pump prices of the product by over 200% in the last two days.

President Bola Ahmed Tinubu had in his inaugural speech mentioned that “subsidy is gone.”

Shortly after, queues began forming at filling stations across the country and prices went up almost immediately.

In a statement signed in Abuja by its National Co-Spokesperson, Comrade Mark Adebayo, the coalition said, “This hoarding and price hikes are unnecessary, evil, wicked and inhuman. The 2023 budget still takes care of subsidy up till the end of June 2023.

“The marketers are just taking undue advantage of the obviously ill-advised strategic communication error that occured at the President’s inauguration where he tactlessly declared that subsidy was gone! This was not only an inauspicious occasion for such announcement, but also a total communication error.

“This is utterly disappointing considering the fact that one would have expected that the new president would have communication experts working with him on his inaugural speech in order to avoid such clearly avoidable gaffe.”

“Since the fuel subsidy regime still subsists till the middle of the year, the president should have been silent on it. To declare matter-of-fact in such a tactless manner that “subsidy is gone” gives opportunity for unpatriotic oil marketers to cause the harrowing experiences that Nigerians are going through at the moment.

“The President should have known better than making such an announcement over a month to the end of the subsidy regime. It’s a major strategic communication blunder with undesirable socioeconomic consequences on already overburdened Nigerians.

“He and his handlers should have known well enough that such a declaration would activate a chain reaction of unpleasant sharp practices by oil marketers that would impact negatively on the society and, even, his own government.

“Nigerians were not prepared psychologically by the government through systematic communication and deliberate public awareness activities before this burden was suddenly unleashed on the people.

“It is a function of strategic miscommunication and the President didn’t do himself any good by that. Transportation costs has suddenly gone up by 300% in some places as the pump prices now range from N550 to N600.

“This is inexcusable in all ramifications for a government that is just coming in. As for the fuel marketers who have taken undue advantage of this policy gaffe, it is an unethical and obscene business practice to unleash such sudden attacks on Nigerians when you still have subsidy support till the end of June 2023. Your action is inexcusable, reprehensible, unpatriotic and obnoxious.”



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