The Centre for the Promotion of Private Enterprise, CPPE, has expressed strong disapproval of the recent hike in petrol prices, characterising it as “ill-timed and insensitive” given Nigeria’s current economic struggles.
In a statement issued on Wednesday, Muda Yusuf, the Chief Executive Officer of CPPE, emphasised that the Federal Government must take into account social, economic, and political factors when making policy decisions, rather than solely focusing on commercial interests.
He lamented that the timing of this price increase fails to acknowledge the difficult conditions faced by many Nigerians today.
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The former head of the Lagos Chamber of Commerce and Industry added that the Nigerian economy is not ripe for full-blown deregulation and market principles on all fronts.
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