The Salt City Chamber of Commerce, Industry, Mines and Agriculture (SALTCCIMA) has strongly opposed the recent hike in pump prices of Premium Motor Spirit (PMS) and diesel, citing increased economic hardship and rising operational costs for businesses nationwide.
In a statement issued from Abakaliki, the Ebonyi State capital, SALTCCIMA President Chukwuemeka Eze expressed deep concern over the scarcity of these essential fuels, which has led to over a 50% increase in prices across many parts of Nigeria.
Eze emphasized that PMS and diesel are critical to both business operations and daily living, and making them unaffordable has a direct and detrimental impact on food security and the livelihoods of ordinary citizens.
“The chamber is aware of the ongoing PMS and diesel scarcity in many regions of the country, resulting in a more than 50% increase in prices. This has led to significant hardships for businesses, and we are calling for an immediate reduction to prevent further economic collapse,” Eze said.
He revealed that pump prices in Abakaliki and major local government areas of Ebonyi State have surged, with PMS selling for around N1,300 to N1,400 per liter and diesel priced at N1,400 to N1,600 per liter.
Eze stressed that the continuous rise in fuel prices threatens the survival of nano, micro, small, and medium enterprises (NMSMEs), the backbone of the state’s economy. He warned that the increase, coupled with recent announcements by Dangote Refinery regarding government control over product pricing, paints a grim picture for the future.
“While PMS drives commerce, diesel fuels production in the country. Our members, who belong to the NMSMEs category, are the hardest hit by the incessant price hikes, jeopardizing the progress of commerce, industry, and agriculture,” he added.
Eze also criticized the lack of tangible benefits from the Petroleum Industry Act (PIA) 2021, which was intended to lower fuel prices through deregulation, noting that depot owners play an essential role in maintaining a stable supply chain.
He urged the Federal Government to intervene by directing the NNPC Limited to reverse the recent price increases and ensure a reliable fuel supply chain for businesses to operate effectively. Additionally, he called on the Ebonyi State Government to implement measures that would alleviate the suffering of the populace, particularly farmers who lack adequate storage facilities for their products.
“Our businesses are collapsing, and farmers are struggling to store and sell their produce. Immediate action is required to save the state’s economy,” Eze concluded.
