Economy: Fuel Prices And It’s Effect On Transportation
By Olusegun HOSEA. 29th October, 2024.
As Nigerians struggling to survive the domestics responsibilities in their various families in order for them to meet up with the economic reality in the country, it’s extremely important to examine the effects of the fuel prices on the transportation. Recently the Nigeria Union of Journalists, Zone B held their meeting in Ado- Ekiti State and one of the points among their resolutions was the condemnation of the increment in the price of the petroleum of which government was asked to revert the price to the affordable of the citizens as the economy was not that friendly to anyone purse. The except goes does, the Zone condemned incessant increment of prices of Premium Motor Spirit (PMS) otherwise known as Petrol by the NNPC and urged the Corporation to reverse the arbitrary increments,fix the nation’s refineries and make petrol available to Nigerians at affordable rates. The NUJ in the Zone equally backed the Nigeria Labour Congress’ (NLC) and the Trade Union Congress (TUC) call for reversal of the new fuel price, Charging the Organized labour at the national to redouble their efforts in protecting Nigerians.
To this end, an average payment on the cost of transportation by Nigerian in any short distance or per drop not less than N300 to N500 in some locations particularly in Akure metropoly. Exponent News gathered from the reliable source that a cost of Motorbike from the front gate of the Obafemi Awolowo University Ile-Ife Nigeria to the inner campus cost N400 naira in most case. While Oda to Oja Arakale road most of the time , the Driver of the tricycle called KEKE due charged N400-500 naira in the morning but when it’s getting towards evening, the cost of transportation to that areas usually higher than the morning price as most of them at time do not want to journey towards that axis. The one that would eventually go would charged their customers high price.
Meanwhile, a look at the cost of transportation from the school of technology to Owe Akala side on Motorbike do cost N8000 to N1000 depending on your ability to negotiate. The situation of the cost of transportation has grievously affected the purchasing power of the people in the society. With this , the market women and men have increased the price of their commodities in order to cope with the reality on ground. Yet , for the civil servants among them, their take home can no longer take them home due to the increased in the fuel prices which inturn made the prices of goods and services increase. The current minimum wages promised by the government was not fully implemented by most of the governors and this act of promise and fail has made the pen professional to issued a statement on the subject matter for complying to the directive of the Federal government.
According to the NUJ Press release on the matter which read details, the Union expressed dismay that no Southwest Governor,has commenced payment of the new minimum wage to its workers. It urged the Governors to consider workers’ plight and urgently implement the new wage in order to reduce the effects of fuel price hike on public service workers.
Similarly, the Ondo State government during their one of the campaign promises that they would pay seventy three thousand naira, (N73000) as minimum wage to her workers but to the dismay of the workers , the promise was not materialized in their paycheck this month of October, 2024 as most of them that got their salaries lamented that the promised was not fulfilled and the gubanatoria election is around the corner. May be the one that made the promise on the minimum wage for the workers can still do something before,during and after the election, only time can tell.
In another development, the workers in the state and beyond are not finding it easy at all. As they are still using their old salary to cater for the latest realty of the cost of transportation. The have not are complaining and languishing in poverty while the have one are enjoying as the effects of the hike in the price of petroleum rarely affects them like it does to the have not because they are capable of meeting the challenges of the current economic reality.
All things been equal, the people are still drinking the old win despite the fact that the new wine had increased in price. If this continues without government taking proactive measure to change the cost of living by bringing down the cost of goods and other food stuff prices, the skyrocketed prices in the commodities can lead to the broken homes because most of parents may not be able to cope with the economic reality on ground.
In furtherance, the effects of the cost of fuel has also affected the cost of transportation of farm products from the farm. A roasted plantain cost N400 to N500 hundred naira by the road side . The surge in the price was as a result of the increase in the price of the fuel the driver were using to transport most of those goods from the farm to the market. The people are feeling the pain as the government policies on this aspect of the economy was not in any way favour the citizens.
All though, the country as of today could not boost of the functional refineries due to the high profile corruption that had engulfed the whole sector. The only Refinery the country could boast of now is the private one owned by Alinko Dagonte , the private organization who is now supplying the product to the public. If a private body could triumph in this angle of the economy, there is no reason why government can not handle their own well if actually the interest of the public is in their dictionary. In the past, the leadership of this same country had run these same refineries successfully before every things now became in effective now and citizens were comfortable then than today because of the low standard of living.
The poor functioning of the national refineries responsible for the government action in increasing the price of the fuel of which it’s not the best to the nation. A nation that is blessed with a lot of minerals resources could not boost of the functional refineries and I think it’s not speak well. The people depends on government for the success of their business most especially those people whose major business have direct impact to the using of petroleum to run their business. The effects of the price of petroleum that affected the cost of transportation, it’s the passages that are bearing the burnt.
In conclusion, government can as well as trying their efforts to ensure that the refineries of the country works in order to bring down the cost of fuel and when this happen, the Drivers working in the transportation business would have no choice than to reduce the cost of transportation.
Government can as well make their workers happy by paying them all the arreas owned their workers in order to boost their purchasing power in the market. Let government give license to most people that are qualified to run business of refineries in the country just like we have in the telecommunication sectors in order to have a competitive in the business and if this happened, it would force the market to crash.
Olusegun Adeyemi HOSEA. Secretary OndoNUJ Digital Media-DM Chapel, Publicity Secretary- Association of Professional Bodies of Nigeria–APBN and Publisher of Exponent News, writes from Akure, Ondo State.
