The Minority Caucus of the House of Representatives has demanded the immediate reversal of the recent petrol price hike, warning that it will increase the suffering of Nigerians. In a statement issued Thursday, the caucus criticized the decision to raise the price of Premium Motor Spirit (PMS) without transparency or consultation, labeling it a move that disregards accountability and fairness.
The statement, titled “Reverse Petrol Prices Now,” was signed by Minority Leader Kingsley Chinda. It urged President Bola Tinubu to swiftly address the worsening economic conditions, stating that further petrol price increases would exacerbate inflation, unemployment, and the depreciating value of the naira.
“At a time when the nation is grappling with unprecedented economic challenges, any further increase in the price of petrol will only worsen the suffering of the average Nigerian,” the statement read. The caucus emphasized that the price hike would have far-reaching effects on transportation, food prices, and essential goods, pushing more families into poverty.
The caucus expressed concern that the Nigerian National Petroleum Corporation (NNPC) made this decision without consulting the National Assembly, which represents the people’s interests. They urged the government to prioritize transparency and fairness in decisions that impact the lives of citizens.
The statement also warned of potential social unrest, citing widespread protests already triggered by economic hardships. It called on the Tinubu administration to address the connection between dire economic conditions and rising social tensions.
“We call on the Federal Government to urgently intervene and reverse this unwarranted increase in petrol prices,” the statement concluded. “The government must explore sustainable economic measures without placing additional burdens on the people.”
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