LIST: Reno Omokri Shares Solutions to Fuel Crisis as Nigerians Buy Petrol at N1,200 Per Litre
- Amid the fuel price hike, popular social media personality, Reno Omokri, has expressed fear that Nigeria will continue to battle inflation and rising commodity costs
- Legit.ng reports that since Monday, September 2, Nigerians have been paying between N855 and N1,200 per litre for fuel
- The situation has compounded a cost-of-living crisis in the prominent West African nation
Legit.ng journalist, Ridwan Adeola Yusuf, has over 9 years of experience covering public affairs.
FCT, Abuja - Reno Omokri, a one-time social media aide to ex-Nigerian president, Goodluck Jonathan, on Friday, September 6, suggested that, henceforth, every individual who earns an income should file improved personal income tax returns with the relevant authorities.
Omokri, in a social media post, also proposed that to solve Nigeria’s lingering petrol scarcity and general economic challenges, the country has to “allow market forces to control the price of fuel”.
Source: Facebook
The Peoples Democratic Party (PDP) member explained via his verified X (formerly Twitter) handle:
“Nigeria is not "oil rich". We are oil-poor. On a per capita basis, Ghana is more oil-rich than we are. We produce 1.5 million barrels per day for a population of 220 million people. Ghana produces 200,000 barrels per day for a population of 32 million.
“So, when Nigerians hardly pay taxes and our oil and gas revenue is insufficient to meet the demands of running our country, we are forced to borrow or print money, which means that inflation will increase.
He continued:
“Under this situation, we cannot afford to artificially reduce the price of fuel by paying subsidy. We will go bankrupt.
"Therefore, much as this annoys you, the only options are to allow market forces to control the price of fuel, just as it does other commodities, or we must be prepared to pay higher taxes.
“Failing that, Nigeria will continue to borrow or print more money, fueling inflation and increasing commodity prices.”
Omokri concluded:
“Protests and riots cannot change these economic realities. They will be just like a child's tantrum when his parents cannot afford to buy him a toy.”
Omokri’s solutions to Nigeria’s fuel crisis
- Allow market forces to control the price of fuel.
- Citizens should be prepared to pay higher taxes.
Oil and gas expert bemoans fuel crisis
Meanwhile, an oil and gas expert, Agunbiade Abdul Rahman, has described the current petrol pricing as a disaster.
Speaking to Legit.ng, Abdul Rahman said the government is inconsiderate.
The expert, a manager at Lawrads Global Investment, said:
"The hike is obviously a foul game that is being played in the oil and gas sector. It is sad to see that NNPCL is the sole body that is dictating the price of fuel in the country.
"Unfortunately, the emergence of the Dangote refinery was supposed to be a way out but it is quite sickening to still have the situation unsolved and leaving millions of businesses and Nigerians in stiff hold.
"Personally, I can't run my office for twelve hours anymore because the price that goes to burning fuel to run the business is frustrating. How can a business survive with N1,150 per litre of fuel and have to run for 12 hours daily?"
Conclusively, Abdul Rahman advised the FG to "throw their full weight" behind Dangote’s product as soon as possible "so that we can have a controlled and regulated price and supply of fuel."
Fuel crisis: Tinubu told to sack Kyari
Earlier, Legit.ng reported that Ijaw youth leader, Theophilus Alaye, declared that Mele Kyari, the group chief executive officer (CEO) of the Nigerian National Petroleum Company Limited (NNPCL), has failed Nigerians.
According to Alaye, Kyari and other public officials in charge of the Nigerian oil and gas sector ‘fed citizens with fake stories, telling us the Port Harcourt refinery would be up and running’.
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Source: Legit.ng
