Nigerian activist Ajulo seeks regulatory mechanism to manage oil price fluctuations
An Abuja-based lawyer and rights activist, Dr Kayode Ajulo, has called on government to look at the option of introducing palliatives that can help mitigate the cost of living of vulnerable segments of the society in the country.
Ajulo, who stated this in Abuja recently, said the Ministry of Petroleum Resources should advice the Petroleum Products and Pricing and Regulatory Agency (PPPRA), to reactivate Petroleum Support Fund (PSF) scheme for Nigerians to buy Premium Motor Spirits at lower price.
He said: “Contrary to the position of the fifth columnists, the administration of President Muhammadu Buhari possesses strong political will, human face and integrity. These are facts that cannot be controverted under any guise.
“Meanwhile, at a time like this, I will like to encourage the government to urgently put in place a robust regulatory mechanism to insulate Nigerians from the fluctuation in international crude and products prices, and stabilise domestic, industrial and commercial utilisation of petroleum products by reducing the price of the petroleum products especially that of PMS.
“I say this with all sense of responsibility because it is the most necessary, important and needful thing to do, judging from the current economic situation most households are confronted with in the country.” He also denounced the move by a faction of the Independent Petroleum Marketers Association of Nigeria (IPMAN), to reduce pump price of petrol to enable eligible voters travel.
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