Former Deputy National Chairman of the Peoples Democratic Party (PDP), Chief Bode George, has called on President Bola Tinubu to temporarily reduce the price of premium motor spirit (PMS), commonly known as petrol, to N300 per litre for the festive season.

Currently, fuel prices in Nigeria range between N1,100 and N1,200 per litre following the removal of fuel subsidies in 2023. President Tinubu’s announcement of the subsidy removal upon assuming office led to an immediate price increase from N198 to N560 per litre, with rates gradually climbing to their current levels.

Speaking to journalists, George advocated for a price reduction between December and January, emphasizing its potential to alleviate the economic burden on Nigerians during the Christmas and New Year celebrations.
“Doing this, you would be sending a message of happiness to every home during this Christmas and New Year. This is a challenge I have thrown to him, and I know he can do it,” George said.

He proposed that the government calculate the cost of the temporary price reduction and seek contributions from philanthropic Nigerians to fund it. George also highlighted the role of the First Lady, Mrs. Oluremi Tinubu, citing her capacity to assist, referencing her recent N1 billion donation to a university.
“If the First Lady could donate N1bn to a university, she can donate as her contribution to fuel price reduction,” he added.

The removal of subsidies and subsequent fuel price hikes have fueled inflation, which now stands at 33.88%. This has significantly increased the cost of living for Nigerians, with prices for goods and services soaring. George stressed that a reduction in fuel prices during the holidays would provide much-needed relief and restore a sense of normalcy for struggling citizens.

He expressed hope that such a gesture from the President would inspire goodwill among Nigerians and prayers for the nation during the festive season.