The Centre for the Promotion of Private Enterprise (CPPE) has decried the recent increase in petrol prices, describing it as 'ill-timed and insensitive'
has decried the recent increase in petrol prices, describing it as “ill-timed and insensitive” to Nigeria’s prevailing economic challenges.TheCable observed that the price of the product increased to N998 per litre in Lagos on Wednesday — up from N855/litre.Speaking on the development, Yusuf said the federal government should consider social, economic, and political factors in policy decisions, rather than solely focusing on commercial interests.
“It is important to stress that Social, economic and political considerations matter in policy choices. Commercial considerations should not completely override these considerations,” he said.“The Nigerian economy is not ripe for full-blown deregulation and market principles on all fronts. “The Bill is expected to bring some relief to the citizens and businesses. It would have been better to allow the proposed mitigating measures to be activated and gain traction before coming up with the petrol price hike.
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