APM Knocks Okpebholo Over N1,500 Petrol Price, Demands Resignation

The Allied Peoples Movement (APM) has harshly criticized Edo State Governor, Monday Okpebholo, for defending the current petrol price. The party demanded his resignation, accusing him of insensitive remarks that only serve to justify the economic hardship faced by Nigerians. Okpebholo argued that petrol remains cheaper in Nigeria compared to the United Kingdom, where he claimed a litre of petrol costs more than N3,000 after converting to naira.

However, the APM disputes this comparison, stating that it fails to account for differences in income levels, purchasing power, and living costs, potentially painting an inaccurate picture of the burden on Nigerian households. The APM urged the federal government to focus on measures that could promote price stability and reduce the impact of energy costs on households and businesses.

They emphasized that the real question is whether Nigerians can afford petrol relative to their incomes and the rising cost of living. While UK data confirms petrol is more expensive in nominal naira terms, experts argue that this alone does not establish relative affordability, as wages and other living costs differ significantly between the two countries.

The APM maintains that Nigeria's status as an oil-producing nation makes the issue of affordable and stable energy particularly crucial, urging policymakers to take steps to shield consumers from excessive price fluctuations. They warned that additional pump price increases could exacerbate transportation costs, inflation, and the operating environment for businesses already grappling with high energy and production costs.