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House of Reps ask govt to halt increase in pump price of petrol

By on September 3, 2020 0 148 Views

The Petroleum Product Marketing Company (PPMC) has been asked to halt the implementations of its increase in the pump prices of petrol, which came into effect on Wednesday.

The Minority Caucus in the House of Representatives in a statement signed by its leader, 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.”

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“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 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.

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“Any increase in the cost of essential commodity like fuel will therefore bring more hardship to the people and as such should not be contemplated”.

The Caucus challenged the All Progressives Congress (APC)-led government, “to rather come up with strategies that will lead to decrease rather than 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 directed the PPMC to immediately rescind its announcement and revert to the former price, with a view of a downward review.

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