A former Head of State, General Abdulsalam Abubakar, has warned the Federal Government against increasing the price of petrol.
Abubakar gave the warning while speaking at the 19th Daily Trust Dialogue holding in Abuja, on Thursday.
Recalled that the National Economic Council had recommended that the price of petrol be pegged from N162 to N302, which is to take effect from February.
The former military head of state also warned that any attempt to increase the price of fuel will further push more Nigerians into poverty.
Abubakar said the move will be inimical to the generality of Nigerians who are grappling with the harsh economic situation in the country.
The former military ruler said the recent recommendation by the National Economic Council (NEC) to peg the price of Premium Motor Spirit (PMS) at N302 per litre would affect poor Nigerians the more.
He added that aside from poverty, insecurity in the country was worsening the economic situation while unemployment and underemployment remained at a high level.
“There is a continuous rise in the prices of food items beyond the reach of many Nigerians.
“On top of all these, fuel prices are expected to rise significantly in the coming months as announced last November.
“We all know that when this happens, it will push many millions of Nigerians into poverty.
“Over 18 million Nigerians are still caught up in needless poverty. All of these tend to have negative effects on security.
“In fact, Nigeria now faces a full security crisis that is confounded by the COVID-19 global pandemic and the banditry in many states in Northern Nigeria.
“Most of these have disrupted the final value change across the country and negatively impacted the ability of Nigeria to produce, process, and distribute,” Gen. Abubakar said.
