By Rédaction Africa Links 24 with Mimi Mefo Info
Published on 2024-02-07 14:42:32
Yesterday, several ministers gathered for a press conference to try to convince the population after the recent increase in fuel prices a few days ago.
Several ministers engaged in a heated debate with the press yesterday. Speaking on behalf of the government, René Emmanuel Sadi, the Minister of Communication, unsuccessfully attempted to justify the recent increase in fuel prices. A failed attempt that struggles to convince.
According to the government spokesperson, the recent adjustment of fuel prices at the pump a few days ago is part of the government’s desire to reduce state subsidies for fuel products.
Emmanuel Sadi further added that “it is entirely possible to note that the prices set after this increase remain largely below those currently in force in many countries with a comparable level of development to that of Cameroon.” He also argued that this adjustment is first and foremost due to the inflationary trend observed in the global market, with the repercussions of the Russian-Ukrainian war. “On a macro-economic level, it should be noted that the substantial savings made through the decrease, or even the eventual elimination, of subsidies on fuel products will allow these savings to be redirected towards more profitable sectors that have a real impact on the lives of our citizens,” he claimed.
A series of lies that were dismissed. In terms of prices, the Minister of Communication’s statements turned out to be false. Gabon, Equatorial Guinea, Nigeria, and Chad have lower prices than those in force in Cameroon.
Regarding the inflationary trend that would justify the price increase, economist Louis Marie Kakdeu demonstrated the opposite: “As I write this article, the price of a barrel of oil is $77 US dollars, a general downward trend for a long time. For over a year, the price has not reached $100. I’ll spare you the calculations, but if we consider that a barrel is equivalent to 159 liters, then the price of a liter in the international market would be 290 CFA francs today. The official price structure shows that fuel is expensive in Cameroon for two reasons: first, the choice of the current regime to deal with traders who engage in speculation. Secondly, the government’s choice to overtax fuel. There are approximately 26 taxes and other charges added to the liter of fuel.”
As for the subsidy, it is clear from the analysis that the state of Cameroon does not subsidize fuel. There is no budget line where there is an allocation for fuel subsidies.
René Emmanuel Sadi, Gaston Eloundou Essomba, Grégoire Owona, and Luc Magloire Mbarga Atangana, who came out to try to convince the population, only confirmed in the opinion that the government’s choice was rather to suffocate the people.
Joseph Essama
Read the original article(French) on Mimi Mefo Info
