Source: Punch Newspaper
The Salt City Chamber of Commerce, Industry, Mines, and Agriculture (SALTCCIMA) has urged the government to immediately reverse the recent increase in Premium Motor Spirit (PMS) prices to safeguard small businesses in Ebonyi State from potential collapse.
In a statement, SALTCCIMA President Chukwuemeka Eze voiced concerns about the escalating costs of PMS and diesel, which have surged by more than 50%. He emphasized that these fuel price hikes are placing severe strain on businesses, particularly those in the agricultural and commercial sectors.
“PMS and diesel are critical to our businesses and daily lives. The recent price increases have imposed a significant burden on operations, especially in a predominantly agrarian state like Ebonyi,” Eze said. “It is becoming increasingly difficult to remain silent as our people endure such challenges.”
While SALTCCIMA acknowledged the government’s ongoing efforts to support nano, micro, small, and medium-sized enterprises (NMSMEs), Eze highlighted that the continuous rise in fuel prices poses the greatest threat to the survival of these businesses.
“Our members, many of whom are NMSMEs, are struggling to cope with the heavy fuel costs. Commerce, production, and agriculture in Ebonyi are all being negatively impacted,” he noted.
Eze also expressed concern over the timing of the price hike, which followed Dangote Refinery’s announcement that the Federal Executive Council would be responsible for setting the prices of its products. “This development leaves a bitter taste,” he remarked.
He called on the government to implement the Petroleum Industry Act (PIA) 2021, particularly Section 205, which was designed to reduce fuel prices but has yet to achieve its intended effect. Additionally, SALTCCIMA advocated for greater cooperation among depot owners and key stakeholders in the fuel supply chain to stabilize distribution across Nigeria.
Eze further urged the Ebonyi State Government to take immediate steps to alleviate the hardships businesses are facing, with many on the verge of closure.
“Farmers, for instance, are struggling due to inadequate storage facilities for managing their produce, both for local sales and export,” Eze concluded.
