The Minority Caucus of the House of Representatives has condemned the recent increase in the price of petrol by the Nigerian National Petroleum Company Limited (NNPCL).
The leader of the minority caucus in the House, Kingsley Chinda, made this known via a statement issued on Thursday, September 5, 2024.
Chinda said the development was not only ill-timed but also grossly insensitive to the harsh economic conditions currently being experienced by Nigerians across the country.
Chinda noted that the hike is coming at a time when the nation is grappling with unprecedented economic challenges.
He added that a further increase in the price of gasoline would exacerbate the suffering of Nigerians.
The lawmaker stated that the ripple effects of such an increase were far-reaching, impacting the cost of transportation, food, and other essential goods and services.
Chinda said this would ultimately erode the already fragile purchasing power of millions of citizens, pushing more families into poverty.
Petrol price: Lagosians decry transport fare hike
The lawmaker said the minority caucus was deeply concerned that the decision by the NNPCL was made without adequate consultation with relevant stakeholders.
This, he said, includes the National Assembly, which represents the interests of the people.
He said the unilateral action disregarded the principles of transparency, accountability, and fairness, which should guide decisions affecting Nigerians.
Chinda added: “We, therefore, call on the federal government to urgently intervene and reverse this unwarranted increase in petrol prices.
“We also urge the government to explore and implement more sustainable measures to stabilise the economy without placing an additional burden on the people.”
This, according to him, includes prioritising the rehabilitation and upgrading of local refineries and curbing corruption in the petroleum sector.
The lawmaker also enjoined the federal government to ensure that subsidies genuinely benefitted the masses rather than a few privileged individuals.
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