Presidential candidate of the Peoples Democratic Party (PDP) in the 2019 election, Mr. Atiku Abubakar, has called on the federal government to reduce the pump price of petrol to help Nigerians cope with the impact of the coronavirus on the economy.
Atiku who made the call in a statement entitled ‘Nigeria must take decisive economic action to protect our people from the ravages of the corona virus’ (details below) alsocalled for the suspension of stamp duty charges collected on electronic money transfers.
He argued that as the landing cost of premium motor spirit, also known as petrol, has reduced significantly, it is strongly recommended that the government should not absorb the savings, but should pass it on to the Nigerian people by way of reducing the pump price of PMS to reflect the current prevailing market costs.”
Currently, the product sells for N145 per litre while the price of crude oil in the international market sells perilously below $30.
The statement:
Nigeria must take decisive economic action to protect our people from the ravages of the corona virus
“The coronavirus is raging in the world and not just ravaging human beings, it is also affecting economies. Nigeria is not an island onto itself, and we must take measures to protect the economic well being of our nation and people.
“Every action that can be taken to ease the cost of doing business in Nigeria and reduce the cost of living, while promoting consumer confidence must be implemented.
“All hands must be on deck in a multi partisan manner to ensure that Nigeria does not return to economic recession. This is possible with decisive leadership and disciplined management.
“As such, I recommend that policies like the Stamp Duty on all types of accounts be temporarily suspended, until such a time as the nation’s economy has turned the tide in the fight against this virulent scourge.
“Furthermore, as the landing cost of premium motor spirit, also known as petrol, has reduced significantly, it is strongly recommended that the government should not absorb the savings, but should pass it on to the Nigerian people by way of reducing the pump price of PMS to reflect the current prevailing market costs.
“In addition to these measures, the government is urged to request large scale industrialists and employers of labour not to disengage workers. Definitely, this scourge will affect their production and profitability. However, if they know that the government is behind them and will do all to support them, they are less likely to disengage workers.
“These are extraordinary times, and we as a nation must take extraordinary measures to protect the entire nation. Nigeria is our collective home, as such, we must suppress every partisan disagreement and think and work patriotically to ensure our national survival in the midst of global uncertainty.”
