Following speculation on the planned deregulation of the petroleum industry by the Federal Government, the Progressive Peoples Alliance (PPA) has appealed to President Umaru Yar’Adua to desist from any act that would further exacerbate the tensed economic and social situation in the country.

The party said “the people of this country have suffered enough of inhumanity and degradation such that violent crimes are obvious results of the malfunctioning policies of government.”

Speaking through its National Publicity Secretary, Chief Ben Onyechere, PPA said “it is important to point out for the umpteenth time that deregulation is not tenable in our economy which had failed long time ago. Rather, what government should be doing now is providing subsidy for every sector of the economy in order to generate the much-needed employment opportunities, the essence of which is to re- start the system.

“The current clampdown on bank executives is a further testimony of a failed economy whereby a few people had access to loanable funds which ought to have been utilized to develop the micro-economic system that is suffering chronic dysfunction.

“The  reason Nigeria is being disparaged by other countries is mainly because of the negligent attitude of the leadership towards the people they claim to be leading. The measure of development or enlightenment in governance is rooted in the magnitude of happiness the government is able to generate among the led.

“The PPA will not fail to point out to the President such matters that can bring about a breakdown of law and order because we are all accountable to the people of this country,” the party added.