The recent increase in the price of petrol at the pump has prompted the Nigerian Institute of Management, or NIM, to call on the Federal Government to act quickly to prevent more economic suffering.

The institute’s registrar, Mrs. Taiwo Olusesi, made the demand in a statement on Saturday in Lagos on behalf of Dr. Christiana Atako, President of NIM.

According to Atako, it’s critical to lessen the negative impacts that the most recent spike in petrol prices will have on Nigerians and the country’s economy.

She claimed that the lengthy lines for fuel that had reappeared in a number of towns had negative effects on Nigerians, whose daily expenses were rising.

“The Institute is in favour of the Federal Government’s present initiatives to strengthen and stabilise the country’s faltering economy.

Nonetheless, NIM is a company dedicated to advancing prudent management techniques and good governance.

She declared, “We think the government should do everything in its power to humanise the nation’s economic policies.”

The President of NIM asked the Federal Government to keep acting in the best interests of Nigerians overall by enacting more aggressive policies that will improve the well-being of the populace.

She urged the administration to focus on the nation’s numerous economic problems as well as the lack of fuel and hunger in the country.

“The Institute acknowledges that there have been difficulties in making the decision to eliminate gasoline subsidies.

However, because it will assist to stop the squandering of limited resources, it is an essential step towards the country’s economic stability.

Additionally, it will guarantee that all Nigerians benefit from government expenditure and lessen corruption in the oil industry.

“It is imperative that the Federal Government implements measures to mitigate the effects of the removal of subsidy, as it is a difficult decision that will significantly impact the masses,” the spokesperson stated.

Atako recommended actions such as establishing a safety net tax for

She also urged greater understanding and patience from Nigerians towards the Federal Government.