Parent-Teacher Association Urges President Tinubu to Stabilize Petrol Price Amidst Naira Depreciation

The National Parent Teacher Association of Nigeria (NAPTAN) has fervently appealed to President Bola Tinubu to take decisive action and utilize all available means to prevent any further escalation in petrol prices that could exacerbate the financial burdens faced by Nigerian families. The call for intervention comes in response to the increasing concerns raised by the depreciating value of the Naira against the dollar, and the potential impact on fuel costs.

Mr. Adeolu Ogunbanjo, National Deputy President of NAPTAN, disclosed that this plea emerged from an emergency meeting convened by the association on Monday in Lagos. The urgency of the situation, coupled with the pressing needs of Nigerian parents and families, prompted NAPTAN to implore President Tinubu to step in and provide essential relief.

The plea comes in the wake of a recent projection by oil marketers indicating an impending price surge attributed to the weakening Naira. Marketers emphasized that the continuous appreciation of the dollar in relation to the Naira within the foreign exchange market will directly contribute to further escalation in fuel prices across the country.

Ogunbanjo’s appeal centers on the notion of granting a concessionary exchange rate for petroleum importers. He emphasized that such a move would establish a conducive environment where the current fuel prices can be sustained without undue pressure on Nigerian families. Acknowledging the removal of petroleum subsidies, Ogunbanjo advocated for a nuanced approach, suggesting that the unification of the Naira’s exchange rate at this juncture is exacerbating the prevailing economic hardships.

Expressing the concerns of parents, Ogunbanjo highlighted the impending challenges of the upcoming school season, as September marks the period for school fee payments. The association underscored the collective plight of parents and guardians, imploring President Tinubu to heed their call and ensure that fuel prices remain manageable. Ogunbanjo emphasized the potential ripple effects of further fuel price hikes on Nigerian households, urging the president to consider the well-being of the people and act swiftly.

“As approximately 60 percent of our members are parents, we are approaching a critical time when school fees will be due. Nigerian parents are appealing to Mr. President, as they are grappling with economic hardships. We earnestly urge him to take the necessary measures to stabilize fuel prices and prevent any increase that could intensify the prevailing challenges,” Ogunbanjo passionately conveyed.

The fervent plea from NAPTAN underscores the deep-rooted concerns of parents and families, shedding light on the need for immediate intervention to mitigate the potential adverse effects of escalating fuel costs on the already strained household budgets.