Despite Nigeria being one of the countries in the world with lowest fuel price, the value of our currency does not make us feel we’re among and the value is of low rate. In the history of the rate and value of naira has never been this low, there was a time when one dollar was equal to one naira, price of commodities were low and affordable to common man. During this period, it’s was very easy for average Nigerians to build a house of their own. Several government that have come to power has in one way or the other influence the price of petrol and welfare of the citizens.
During Obasanjo reign, it was very affordable and money was in circulation. The value of our currency was high unlike his successor’s time. The price of foods stuff then were affordable to a layman and life was very easy apart from infrastructural project which he failed to implement. However, they are few notable achievement of Obasanjo that Nigerians are enjoying till date. He was the one that introduced mobile phones and tricycle (keke Napep) to the country. The mobile phone alone had exposed Nigerians to many things around the world and contributed to the country’s economy. While the tricycle had provide in the long run job opportunities to the citizens.
During his successor (Jonathan) regime, the value of naira was a bit lower than that of Obasanjo’s era. The exchange rate was on a higher scale but was affordable and manageable to Nigerians. Price of commodities were so low that, there was food sufficiency in the country, the price of petrol then was around 86 naira per liter and transport fare within the country was affordable. To embark on interstate journey was very easy for average citizens.
Everything seems to have changed during the reign of this present administration. The value of naira has gone lower 80 percent than that of his predecessors, during the first term of the present administration in 2015/2016, petrol price was increased from 86 naira to around 145 naira per liter, the price of commodities were on a higher scale and cost of living in the country became very high too. Bag of rice that was sold around 8,000 naira in the previous regime went higher to around 18,000 naira, there was increase in almost everything money buys. Transportation fare skyrocketed and total economy of the country was not encouraging.
In the second term of this present administration another reported case of fuel price hike has surfaced in Nigeria in the previous days. The president is said to have increase the pump price of petrol again even just like he did in his first term, the price now said to be increased from the previous 145 naira to 160 naira. In an attempt to confirm this development and know the effect on business activities and common man, Olainfo took interview to the street of Port Harcourt to enquire from the people how it has affected in the previous days.
One our respondent who happens to be a commercial driver within the city, Adewale Ayuba, a taxi driver who runs Rumuola to Choba route on daily basis told us that the price of Choba to Rumuola has now increased from 200 naira to 300 naira all because of the current state of the fuel price. He noted that they had to hike the price because the cost of living has also gone higher, and there are families to take care of. Some of the passengers who respond to our interview also claimed that the current situation has affected her movement to work, she said her salary can’t cover up her transport fare in a month. We just hope that government see to this and adjust the price for the benefit of the citizens.
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