Lawmakers Demand The Price Reversal Of Fuel

The Nigeria’s House of Representatives has asked the federal government to immediately order a reversal of the recent increase in the price of Premium Motor Spirit (PMS) which it said has increased the hardship being faced by Nigerians.

The House on Wednesday, October 16, asked the Tinubu-led federal government to take immediate steps to stabilise PMS and cooking gas prices through temporary price relief measures, tax reductions, or subsidies on LPG for low-income households.

Recall that in September the Rep Minority Caucus faulted the unilateral action of NNPC “as it disregarded transparency, accountability, and fairness in the announced increase in fuel price.”

The Caucus asked the government in power to “quickly address the connection between dire economic conditions and social unrest by reviewing and scraping its anti peoples’ economic policies” which it has failed to do.

Adopting a motion of urgent public importance sponsored by 101 members today 16th Oct., the House asked the Nigerian National Petroleum Corporation (NNPC), Ministry of Petroleum Resources under President Tinubu and other relevant agencies to expedite the repair/maintenance of domestic refineries and increase local refining capacity as a stop-gap measure to reduce the dependence on imported refined petroleum products.

Reps asked the Central Bank of Nigeria (CBN) to implement monetary policies that will mitigate the adverse effects of fuel price hikes on inflation, particularly about essential goods and services.

The Nation reported that Reps also want the federal government to explore alternative energy sources and diversify the country’s energy mix to reduce reliance on petrol and gas, promoting renewable energy solutions that are more sustainable and affordable in the long term.

In addition, it said State Governments to adopt policies that alleviate the financial burden on their citizens, such as waiving taxes or levies on transportation and goods affected by high fuel costs;

Moving the motion on behalf of other members, Deputy Minority Leader, Aliyu Sani Madaki (NNPP, Kano) said Nigeria, as an oil-producing nation, has historically relied on petroleum products and cooking gas (LPG) as essential sources of energy for both domestic and industrial purposes.

He expressed concern that in recent months, the prices of petrol and cooking gas have skyrocketed and continue to so do, creating an unsustainable financial burden on ordinary Nigerians and exacerbating the cost of living.

Madaki said the removal of fuel subsidies, coupled with global oil price volatility and the depreciation of the Naira, has contributed significantly to the rising cost of petrol at the pump and cooking gas for households.

He said 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 expressed concern that businesses, particularly small and medium-sized enterprises (SMEs), are struggling to manage their operational costs due to increased fuel prices, threatening economic stability and job security.

He said the Federal Government has previously announced plans to repair domestic refineries and boost local refining capacity to address some of these issues but has yet to deliver significant results in this regard.

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According to him, the rising cost of petrol and cooking gas poses a significant threat to the livelihood of millions of Nigerians and unchecked inflationary pressure caused by the increased prices can lead to social unrest, increased poverty rates, and negative long-term economic effects.

He said that unless urgent and pragmatic steps are taken to control the rising cost of petrol and cooking gas, the Nation will go into economic crisis leading to negative outcomes like increased crime rate and mortality rate.

In his contribution to the debate, Minority Whip of the House, Ali Isa (PDP, Gombe) said the constant increase in prices of petrol has led to the escalation of prices of food, transportation, and health care services, thereby having a negative impact on the Nigerian people.

He argued that in accordance with the provision of section 14(2b) of the constitution, the primary purpose of government is to ensure the welfare and security of the people, saying, “Our responsibility is to ensure the welfare of our people.

“The people are suffering because of the increase in fuel price and the government should allow the people to breathe and should please not remove the cylinder giving Nigerians little oxygen.

“The government should listen to the cry of the people and take steps to review any policy that will affect Nigerians negatively. Those who sign this motion are of the view that their people and by extension, the Nigerian people are suffering.

Also contributing, Yusuf Adamu Gagdi argued that the motion was apt and speaks to the current challenges that Nigerians were passing through, saying, “We speak to draw the attention of the government to do things that will improve the welfare of Nigerians.”

He stated that members were not against any move to better the lives of Nigerians, adding that the Petroleum Industry Act which deregulated the oil sector was a creation of the National Assembly.

He said however that what should be of utmost concern should be how to adjust the speed limit of the deregulation to avoid adverse effects on the Nigerian people.

Also, George Ibezimakor said the increase in the price of petrol has made nonsense of the recently announced national minimum wage of N70,000 given the sharp increase in prices of goods and services.

“Our people cannot transport their farm produce to the market and because of that, there is an increase in prices of food we must pressure the government. We also need to review our OPEC policy. We don’t have to be in OPEC because that is the only way we can address this issue.

In his intervention, the Minority Leader and one of the sponsors of the motion, Kingsley Chinda (PDP) said every responsible and responsive officeholder must listen to the people they serve.

He said: “Law is made for man and not man for the law. When a law is passed, you also look at the intention of the law. The PIA provides for deregulation. What is the intention of the law? Is that what Nigerians going through right now? The answer is no.

“We yearn for deregulation, but his do we implement it so that it does not affect the people negatively? We must consider Nigerians in the process of implementation of such laws.”