The Salt City Chamber of Commerce, Industry, Mines and Agriculture (SALTCCIMA) has kicked against the increase in pump prices of Premium Motor Spirit (PMS) and diesel which has raised the operational cost of businesses.
SALTCCIMA is an advocacy voice for the institution of a conducive business environment for commerce, industry, and other forms of economic activities in Ebonyi state.
In a statement, SALTCCIMA President, Bar. Chukwuemeka Eze said the chamber was aware of the ongoing PMS and diesel scarcity in many parts of the country, resulting to over 50 per cent increase in the price of fuel.
He said: “Premium Motor Spirit (PMS), as well as diesel, remains the center-piece of our businesses and our living. Making the price out of our reach has direct impact on food security and all aspects of our agrarian life in Ebonyi State. It is, therefore, difficult to continue to keep quiet in the midst of our suffering”.
He acknowledged the intention of governments at all levels to promote nano, micro, small, and medium scale enterprises (NMSMEs) but insisted that the frequent increase of the prices of these products remains the greatest threat to commerce, industry, and agriculture.
“While PMS dictates our commerce, diesel is the driver of production. Our members fall into the NMSMEs and are the worst hit in this policy of regular increase in fuel prices. The coincidence of the increase and Dangote Refinery’s announcement that the Federal Executive Council will determine the prices of its products leaves a sour taste in the mouth,” he said.
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Eze further stated that the provision on deregulation as contained in section 205 of the Petroleum Industry Act, 2021, which we expect to lead to the decrease in the prices of petroleum products, is not yielding the positive results it was meant to achieve.
“We call on the Federal Government to reverse the prices of petrol and diesel for our businesses to return to optimal level. We also call on Ebonyi State Government to take further measures to alleviate our degradation as businesses are folding up and farmers lack storage facilities to hold their products and plan for internal sales and export,” he said.
While PMS dictates commerce, diesel is the driver of production in the country. Our members fall into the NMSMEs and are the worst hit in this policy of regular increase in fuel prices.
Eze said the coincidence of the increase and Dangote Refinery’s announcement that the Federal Executive Council will determine the prices of its products leaves a sour taste in the mouth.
“We further state that the provision on deregulation as contained in section 205 of the Petroleum Industry Act, 2021, expected to lead to the decrease in the prices of petroleum products, is not yielding positive results,” he said.
SALTCCIMA emphasised the indispensable role of depot owners in Nigeria’s fuel supply chain, insisting that while there might be competitive elements in the market, collaboration and cooperation are essential for ensuring a stable fuel supply in Nigeria.
“We call on the Federal Government to direct the Nigerian National Petroleum Company Limited to reverse the announced increment in price of PMS and strengthen supply chain to make the products available for businesses to return to optimal level,” he said.
“We also call on Ebonyi State Government to take further measures to alleviate our degradation as businesses are folding up and farmers lack storage facilities to hold their products and plan for internal sales and export,” he added.
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