Former Head of State, Gen. Abdulsalami Abubakar (retd.), has said that fuel hike will push many millions of Nigerians into poverty.
He made the statement at the 19th Daily Trust Dialogue in Abuja.
He said this following the recommendation issued by the National Economic Council for fuel price to be pegged at N302 per litre.
The former Head of State said, “Insecurity in the country is worsened by our dear economic situation. Unemployment and underemployment remain at a high level. 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.
“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.”