The minority caucus in the House of Representatives has condemned the latest increment in the pump price of Premium Motor Spirit (petrol) from N148 to N151.56k per litre.
The Petroleum Product Marketing Company, on Wednesday, announced that the Nigerian National Petroleum Corporation retail outlets would now sell petrol for N151.56k per litre, while the Independent Petroleum Marketers Association of Nigeria had directed its members in the South-West to sell at N162.
The Minority Leader of the House, Ndidu Elumelu, in a statement issued on Wednesday and titled, ‘Reps Caucus Demands Halt in N151 Fuel Price Increase’, described the increment as unacceptable.
Elumelu warned that it would result in an increase in the already high cost of consumer goods and services and worsen the current economic hardships being suffered by Nigerians.
He said, “The minority caucus in the House of Representatives rejects the announced increase in the pump price of fuel.
“This is because such increase will directly result in more hardship on our citizens, particularly at this critical time when a majority of Nigerians across the country are struggling to survive under the burden of high cost of living and low purchasing power occasioned by the prevailing economic challenges.
“Any increase in the cost of an essential commodity like fuel will, therefore, bring more hardships to the people and, as such, should not be contemplated.”
The opposition lawmakers challenged the All Progressives Congress-led Federal Government to come up with strategies that would lead to decrease rather than an increase in the cost of fuel, including revamping our nation’s refineries, “instead of always resorting to price increase to the detriment of Nigerians.”
The minority caucus, therefore, directed the PPMC to “immediately rescind its announcement and revert to the former price, with a view of a downward review.”
Peace Obi with Agency Report
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