Nigeria Governors’ Forum (NGF) has considered the report of a committee headed by Kaduna State Governor, Mallam Nasir El-Rufai, and accepted its recommendation that backs full deregulation of petrol.
The governors at a virtual meeting on Wednesday reached the decision.
A committee set up by the Nigerian Governors' Forum (NGF) had reportedly recommended a petrol price of between N380 and N408.5 per litre.
The committee also recommended that the federal government should buy 113 buses for states and major cities as a palliative to cushion the effects of the price increase.
However, some Nigerians have reacted to the NGF's report, describing it as another phase of suffering, while some struggle to understand the value that the proposed provision of 113 buses will have on the masses if there's going to be close to 100% fuel hike.
For instance, Dr. Oludayo Tade, a lecturer in the department of sociology, University of Ibadan expressed his concern, saying, "Senators' salary factors inflation into it but my salary will not increase even after they have decided to start selling fuel for N385!
"If I am spending N24,000 on fuelling my car for a month before, it will become N48,000. Transport from Lagos to Ibadan will become N5, 000! Schools will increase fees to adjust to the shock!
"Parents receiving N30,000 minimum wage won't be able to cope. Number of out-of-school children will increase, corruption will increase and insecurity will not seat idly! From Sai Baba to Kai Buhari!
"Coke is already going out of the reach of the common man. It will move to N200 after fuel hike.
"Landlords will increase rents, cement price has already started preparation towards that. Organisations unable to cope will close shop and there will be increase in movement of people out of this country."
Grace Akinosun, a Corporate Communication Consultant said, "I hope other nuances have been considered if we're to take this route. I'm struggling to understand the value that 113 buses present if there's going to be close to 100% fuel hike.
"Also, living conditions of many Nigerians are deteriorating, I think the government should only go ahead if there are plans to cushion the resultant effect on the average Nigerian. And it's best that these plans are piloted to determine efficiency before the hike is implemented."
Twitter users were not left out in the conversation.
For instance, Olumide Emmanuel said, "I hope the governors who supported the hike of petrol for full deregulation have considered their labour work force whom many of them cannot pay minimum wages. Have they also consider the high cost of living of which there is scarcely cheaper things in the market for masses? Rethink."
Arabo Destiny noted, "Why must the masses always be the ones to bear the brunt of government's failure? Why not fix the smuggling problem instead of pushing the burden to Nigerians? Where is the extra money supposed to come from? Our leaders are just so lazy."
Paul Murphy said, "These people are just getting useless every day by day, next protest should be to their home and offices directly because since they subsidise the fuel, nothing has changed in this country. Now, look at the rubbish they agreed to."
Yomi Ibironke pointed out that "another phase of suffering is about to start. They say what goes up must come down. But reverse is the case in Nigeria. What crescendo of hardship would it get to before enough is enough in this country?"
Meanwhile, the report came ahead of Thursday’s Federation Accounts Allocations Committee (FAAC) meeting.