Buhari Media Organisation, BMO, on Thursday said the reduction in the pump price of petrol from N145 to N125 by the President Muhammadu Buhari administration is a clear show of compassion for the Nigerian people by the President.
In a statement signed by its Chairman Niyi Akinsiju and Secretary Cassidy Madueke, the group said it is on record that the Buhari administration has not failed to utilise any opportunity to improve the lives of Nigerians. “This aligns with one of the government’s cardinal objectives of bequeathing a healthy economy to the country.
“Apart from enhancing the spending power of the citizens, the gains associated with the reduction in the fuel pump price are multi-faceted. It will enable the citizens to have more funds to spend on other needs thereby cushioning the effects of the downturn in the global economy as a result of the coronavirus pandemic.
“The reduction in pump price will enhance the productivity of the manufacturing sector as it will reduce the cost of their operations. Even the cost of transportation for ordinary Nigerians will fall as this is a natural trend in every economy, and the result is improved life for all Nigerians.”
BMO also acknowledged that the reduction is “in consonance with the Buhari administration’s total commitment to the well-being of Nigerians as evident in the massive infrastructural upgrade taking place across the six geo-political zones of the country.
“We are therefore beginning to see the difference between the present administration and previous administrations. This one is more focussed on making life more meaningful for ordinary Nigerians, and the measures already taken will mitigate the corrosive effects of the COVID-19 pandemic.”
The group, therefore, urged Nigerians to appreciate and continue to support the government in its efforts to reposition the country.
“We note that despite severe economic challenges confronting Nigeria, going by the drastic drop in global oil price, the Federal Government remains focussed to deliver on its obligations to the Nigerian people”, the statement added.
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