The Nigerian Medical Association (NMA) has called on President Bola Tinubu to urgently reverse the recent increase in the price of Premium Motor Spirit (PMS).
APPEAL FOR RELIEF
In a statement released on Thursday in Lagos, Dr. Babajide Saheed, the Lagos State Chairman of the NMA, urged the President to prioritize the welfare of Nigerians amidst the rising economic pressures. Saheed pointed out that the recent removal of petrol subsidies has put additional strain on citizens, particularly those in the medical field who are already facing economic hardships.
ECONOMIC IMPACT
Saheed highlighted the detrimental effects of the fuel price hike, noting that it exacerbates inflation, high electricity tariffs, and excessive taxation on wages. He warned that this increase will deepen the economic struggles of Nigerians, potentially leading to higher poverty rates, increased stress-related health issues, and greater social unrest.
“The sudden spike in petrol prices will amplify the mental, social, and emotional stress that citizens are experiencing,” Saheed said. “With inflation rates soaring and living costs at an all-time high, this decision will further contribute to rising depression and health-related conditions.”
CALL FOR POLICY REVIEW
Saheed also expressed concern about the mass migration of NMA members due to economic challenges and urged the Federal Government to review its economic policies. He emphasized the need for Nigeria to focus on achieving self-sufficiency in petroleum product production and to revitalize local refineries.
In addition, Saheed stressed the importance of addressing the country’s persistent insecurity to create a stable environment conducive to economic growth and to reduce the growing hardship and poverty among Nigerians.
SUGGESTIONS FOR IMPROVEMENT
The NMA’s appeal includes a push for the government to expedite efforts to end petrol importation and to prioritize local refinery development. Saheed believes these measures are crucial for alleviating the economic strain on Nigerian citizens and improving overall national stability.
