Human Rights Lawyer and Senior Advocate of Nigeria, SAN, Femi Falana, has claimed that the Federal Government was buying time to increase pump price of fuel.
Falana, who was responding to a question regarding the purported fuel price hike across the nation, stated that the PPRA who released a statement regarding fuel pricing lacks the constitutional power to do so.
According to him, such power as mandated by the International Monetary Fund, IMF, belongs to the market forces.
Mr Falana argued that the federal government only halted the plan for the price hike based “on security reports that Nigerians were prepared to challenge the increase”.
He postulated that the fuel price increase would have been effected if the governemnt had only thought it would only need the agreement of the Nigeria Labour Congress, NLC, and Trade Union Congress, TUC.
“That is no longer the case. You will recall that when the last announcement was made, the government came out to say we are under pressure from the IMF. And that henceforth, market forces will determine the prices of petroleum in Nigeria.
“I am convinced beyond any shadow of a doubt that any unpopular measure will be fought by common Nigerian people,” he said.
Recall that the Petroleum Products Pricing Regulatory Agency, PPPR, had earlier clarified its stance in a press statement, noting that its releases which were quoted to be indicative of price hike “was only indicative of current market trends and do not translate to an increase in the pump price of PMS”.
“However, publications by the media to this effect have been misconstrued and thus misleading.
“The Agency wishes to remind the general public of the introduction of the Market-Based Pricing Regime for PMS Regulation 2020 as gazetted by the Federal Government.
“Based on this regulation, prices are expected to be determined by market realities in line with the dictates of market forces,” it said.
