In a bid to ease the economic challenges faced by Nigerians during the festive season, former Deputy National Chairman of the Peoples Democratic Party (PDP), Chief Bode George, has suggested that President Bola Ahmed Tinubu consider reducing the price of Premium Motor Spirit (PMS) to N300 per litre for the upcoming Yuletide.
George believes that this reduction would provide relief to Nigerians and help them celebrate a more joyful and prosperous Christmas season.
Currently, the price of a litre of fuel stands at approximately N1,100 to N1,200 nationwide, following the removal of the fuel subsidy. The hike in fuel prices, which began after President Tinubu assumed office in 2023, has contributed to inflation, now at 33.88%, significantly increasing the cost of goods and services.
Speaking to the press, George emphasized that reducing fuel prices would alleviate the “anger and hunger” experienced by many Nigerians. He proposed that the government calculate the cost of the price cut and seek support from philanthropic individuals to fund the initiative.
“This gesture would send a message of joy and hope to every home during Christmas and the New Year,” George stated. “This is a challenge I am throwing to him, and I believe he can do it.”
George also suggested that the First Lady, Mrs. Oluremi Tinubu, could contribute to the cause, citing her previous donation of N1bn to a university. “If the First Lady can donate N1bn to a university, she can also contribute towards the reduction in fuel prices,” he said.
Lowering fuel prices, according to George, would also help reduce the cost of food items, allowing Nigerians to enjoy the festive season in a more joyous mood and with prayers for the President.
As the country grapples with inflation and other economic pressures, this proposal has sparked debate about the feasibility of such a move amid ongoing financial strain.