Fuel: Reverse Petroleum Price Hike Now, Rep Minority Caucus Tells FG

The Minority Caucus of the Nigeria’s House of Representatives, has demanded the price reversal of petroleum products, especially, premium motor spirit (PMS).

The Caucus has strongly condemned the Nigerian National Petroleum Corporation’s (NNPC) recent announcement to increase petrol prices.

This decision has attracted widespread and nationwide condemnation given to the fact that Nigerians deserve a better and cheaper prices of petroleum products as the sixth largest oil producing country in the world.

The company’s decision on price hike is ill-timed and insensitive to the current economic challenges faced by Nigerians. The country is grappling with rising inflation, unemployment, and a depreciating Naira.

The fact remains that the increase in petrol prices is already exacerbating the suffering of the average Nigerian, impacting the cost of transportation, food, and essential goods and services across the board, regardless the sector in the country.

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The purchasing power of millions of Nigerians are eroded, pushing more families into extreme poverty conditions.

The Reps Minority Caucus is concerned that the NNPC made this decision without adequate consultation with relevant stakeholders, including the National Assembly.

It faulted this unilateral action of NNPC as it disregarded transparency, accountability, and fairness.

The current worsening economic conditions under the Tinubu-led federal government have placed immense pressure on citizens’ livelihoods, triggering widespread protests.

The government in power must quickly address the connection between dire economic conditions and social unrest by reviewing and scraping its anti peoples’ economic policies.

The Minority Caucus calls on the Federal Government to urgently intervene and reverse the petrol price increase. Stressing it is incumbent on the government of the day to explore sustainable measures to stabilize the economy without burdening the people with hardship pron policies and measures.

The Caucus reiterates urgent need to rehabilitate and upgrade local refineries, curbing corruption in the petroleum sector, and ensuring subsidies benefit the masses, not just a few individuals.

The repsvoucwd out its solidarity with the Nigerian people in rejecting this price hike and will continue advocating for policies prioritizing citizens’ welfare and well-being. They urge the Tinubu-led federal government to listen to the people they claim to govern and alleviate their sufferings.