Following his induction as the new Cross River State Governor, Senator Prince Bassey Otu has beseeched petroleum marketers in the region to put an end to their hoarding practices and ensure that petrol is sold at government regulated prices.
During his press conference on Tuesday, Otu expressed concern over the abrupt increase in petrol pump prices instigated by the President’s recent abrogation of fuel subsidies. He condemned the negative impact this has had on the populace, describing the actions of petroleum marketers as unhealthy, adding that harsh consequences will follow.
The governor reprimanded marketers for purposefully exploiting the public, acknowledging that an economy cannot be created by exploiting the citizenry. Otu’s main objective is to rebuild a robust economy by removing the petroleum subsidy. Marketers must ensure the necessary products are available immediately and must take responsibility for rolling back prices.
Despite the removal of the subsidy, Otu believes that transition frameworks will be put in place to mitigate negative effects. In the meantime, petroleum marketers are obligated to open their stations, and supply consumers within the established guidelines.
