Chamber Advocates Petrol Price Reversal to Protect SMEs

The Salt City Chamber of Commerce, Industry, Mines, and Agriculture (SALTCCIMA) has called for an immediate rollback of the recent hike in Premium Motor Spirit (PMS) prices to protect small businesses in Ebonyi State from collapse.

SALTCCIMA president, Chukwuemeka Eze, expressed concern over the rising costs of PMS and diesel, which have increased by more than 50 per cent, emphasising that these fuel price hikes are putting immense pressure on businesses, particularly in agriculture and commerce.

“PMS and diesel are the lifeblood of our businesses and everyday life. The recent price hikes have placed a heavy burden on operations, especially in an agrarian state like Ebonyi. It’s becoming harder to remain silent as our people face such hardships,”Eze stated.

While SALTCCIMA acknowledged the government’s efforts to support nano, micro, small, and medium-sized enterprises (NMSMEs), Eze stressed that the continued rise in fuel prices posed the greatest threat to their survival.

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Our members, most of whom are NMSMEs, are struggling under the weight of these fuel costs. Commerce, production, and agriculture are suffering in Ebonyi, he noted.

Eze also raised concerns about the timing of the price hike, which came after Dangote Refinery’s announcement that the Federal Executive Council(FEC) would set the prices of its products. This leaves a sour taste in the mouth, he remarked.

He urged the government to enforce the Petroleum Industry Act (PIA) 2021, particularly Section 205, which was designed to lower fuel prices but has yet to deliver the intended results. Additionally, SALTCCIMA called for collaboration among depot owners and key stakeholders in the fuel supply chain to stabilise distribution across Nigeria.

Eze also urged the Ebonyi State government to take immediate action to ease the hardships facing businesses, many of which are on the brink of closure.

Farmers, for example, are struggling due to a lack of proper storage facilities to manage their produce for both local sales and export, Eze concluded.