The Ogun State Chamber of Commerce, Industry, Mines, and Agriculture, has warned the Federal Government that the hike in the price of fuel will lead to dire consequences in the country, News About Nigeria reports.
The OGUN CCIMA President, Niyi Oshiyemi, gave this warning in a statement on Thursday.
He noted that the recent fuel price increase will lead to job losses, reduced economic activity, and higher poverty levels, among many others, in Nigeria.
He maintained that the price hike will have far-reaching consequences on the economy, businesses, and citizens, resulting in increased production costs, higher prices for goods and services, and reduced profitability for businesses.
He, therefore, urged the Federal Government to take immediate action to mitigate the negative effects of the fuel price hike, stating that the Chamber cannot and will not watch as businesses suffer and Nigerians bear the consequences.
Oshiyemi also advocated for a reduction in the pump price, support for businesses, and investment in alternative energy sources.
He noted that the Chamber is ready to engage in constructive dialogue tailored towards finding lasting solutions to the issue.
He stated, “The fuel price increase will lead to job losses, reduced economic activity, and heightened poverty levels, disproportionately affecting low-income earners and small business operators.
“The Federal Government must act now to reduce the impact of this fuel price increase. We cannot afford to watch as businesses suffer and Nigerians bear the consequences. We urge the government to consider the long-term effects of this hike and take proactive measures to address the underlying issues.
“We are ready to engage in constructive dialogue to find lasting solutions.”
