Ebonyi Businesses on Brink as Salt City Chamber Urges Immediate Return to Old Fuel Prices
The Salt City Chamber of Commerce, Industry, Mines, and Agriculture (SALTCCIMA) has issued a stark warning about the dire impact of rising fuel prices on businesses in Ebonyi State. In a statement, the chamber called for the immediate return to old Premium Motor Spirit (PMS) prices, stressing that the recent hikes are crippling small enterprises, particularly in agriculture and commerce.
Chukwuemeka Eze, President of SALTCCIMA, highlighted the severe strain the price surges have placed on businesses, with fuel costs rising by more than 50% due to nationwide shortages of PMS and diesel. He described the situation as a major threat to the economic lifeline of the state, where most livelihoods are deeply intertwined with agriculture.
“Premium Motor Spirit and diesel are essential for our businesses and daily lives. The recent hikes have placed an unbearable burden on operations, especially in a predominantly agrarian state like Ebonyi. It is becoming increasingly difficult to remain silent as our people endure these hardships,” Ezestated.
While acknowledging the government’s efforts to support nano, micro, small, and medium enterprises (NMSMEs), Eze pointed out that escalating fuel prices pose the greatest challenge to their survival. “Our members, most of whom are small-scale businesses, are bearing the brunt of this policy. The rising fuel costs are paralysing commerce, production, and agriculture in the state,” he warned.
The chamber also expressed dismay over the timing of the price hike, coinciding with news that the Federal Executive Council would determine the pricing of products from Dangote Refinery. “This leaves a sour taste in the mouth,” Eze remarked, suggesting a misalignment between government policy and the interests of local businesses.
SALTCCIMA called for the swift implementation of Section 205 of the Petroleum Industry Act 2021, which was expected to lower petroleum product prices but has so far failed to deliver. Eze urged stakeholders in Nigeria’s fuel supply chain to work together to stabilise distribution and ensure businesses can operate without undue disruption.
Furthermore, the chamber appealed to the Ebonyi State Government to take immediate action to alleviate the suffering of local enterprises, many of which, Eze warned, are teetering on the edge of closure. He also drew attention to the struggles of farmers, who face additional challenges due to inadequate storage facilities, which hinder both local sales and export potential.
“Farmers are struggling to store and manage their produce, and this is having a ripple effect on the entire economy of the state. Urgent action is needed to prevent a complete collapse of our local industries,” Eze concluded.
