Reps condemn petrol price hike, demand local refineries overhaul
The House of Representatives has called on the Federal Government to reverse the recent hike in the prices of petrol and cooking gas with immediate effect to cushion the effects of the current economic hardship in the country.
The price of petrol which skyrocketed to ₦1,030 per litre last week resulted in outrageous increase in transportation costs across major cities in Nigeria.
The resolution of the House, followed the adoption of a motion of urgent public importance moved on the floor of the Green Chamber during Wednesday’s plenary session by the Minority Leader, Kingsley Chinda, and 100 others.
The motion titled: “Urgent Need to Suspend the Increased Cost of Petrol and Cooking Gas in the Country and Provide a Stop-gap,” drew the attention of the executive arm to the hardship Nigerians have been facing.
Chinda, a member of PDP who expressed concern over the recent hike in the prices of petrol and cooking gas, lamented that the development had made living conditions unbearable for Nigerians.
“The removal of fuel subsidies, coupled with global oil price volatility and naira depreciation, has contributed significantly to the rising cost of petrol at the pump and cooking gas for households,” he said.
“We are worried that the escalating fuel and gas prices are impacting the cost of transportation, food, essential goods, and healthcare, further increasing inflation and pushing many families into deeper financial hardship,” he added.
“The House is concerned that businesses, particularly small and medium-sized enterprises, are struggling to manage their operational costs due to increased fuel prices, threatening economic stability and job security.”
While contributing to the debate, House Minority Whip, Ali Isa, condemned the incessant increase in the prices of petroleum products.
He said: “The people are suffering because of the increase in fuel prices. The government should allow the people to breathe and should not remove the cylinder that gives Nigerians a little oxygen.”
“The government should listen to the cries of the people and take steps to review any policy that will affect Nigerians negatively. Those who signed this motion believe that their people, and by extension, the Nigerian people, are suffering,” he added.
The Deputy Minority Whip, George Ozodinobi, said the increase had rendered the ₦70,000 new minimum wage meaningless, given the rise in the cost of goods and services.
“Our people cannot transport their farm produce to the market, and because of that, there is an increase in food prices. We must pressure the government. We also need to review our Organisation of the Petroleum Exporting Countries (OPEC) policy. We don’t have to be in OPEC, as that is the only way we can address this issue,” he said.
After the adoption of the motion, the House called on the Nigerian National Petroleum Company Limited, the Ministry of Petroleum Resources, and other relevant agencies to “expedite action on the repair and maintenance of domestic refineries to enhance the nation’s local refining capacity as a stop-gap measure to reduce dependence on imported refined petroleum products.”
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