The Minority Caucus in the House of Reps has rejected the increase in the pump price of fuel from N148 to N151.56 announced by the Petroleum Product Marketing Company (PPMC) and called for its reversal.
The opposition lawmakers in a statement by the Minority Leader of the House of Representatives, Ndudi Elumelu described the announced increase as unacceptable as it will result in an increase in the already high cost of consumer goods and services, and worsen the current economic hardship being suffered by Nigerians.
According to Elumelu: “the Minority Caucus in the House of Reps rejects the announced increase in the pump price of fuel.
Read also: How transparency is aiding NNPC to march towards profitability
“This is because such increase will directly result in more hardship on our citizens, particularly at this critical time when the majority of Nigerians, across the country, are struggling to survive under the burden of the 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 hardship to the people and as such should not be contemplated”.
The opposition lawmakers challenged the All Progressives Congress (APC)-led government to rather come up with strategies that will lead to a decrease rather than an increase in the cost of domestic fuel, including revamping our nation’s refineries, instead of always resorting to price increase, to the detriment of Nigerians.
The Minority Caucus urged the PPMC to immediately rescind its announcement and revert to the former price, with a view of a downward review.
Join BusinessDay whatsapp Channel, to stay up to date
Open In Whatsapp
