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The house of representatives asked the federal government (FG) to reverse the fuel and cooking gas prices through targeted subsidyLegit.ng recalls that recently, fuel prices rose to N998 and N1,030 per litre after NNPC Limited announced the end of the sole off-taker arrangement with the Dangote RefineryLawmakers warned that the unchecked inflationary pressure caused by the increased fuel prices could soon lead to social unrest in Nigeria Legit.ng journalist, Ridwan Adeola Yusuf, has over 9 years of experience covering governance in Nigeria.
FCT, Abuja – Members of the house of representatives have said the indiscriminate hike of fuel price to (upwards of) N1,300 per litre was alarming.
As reported by The Punch on Thursday morning, October 17, the lawmakers warned that the fuel price hike would naturally lead to widespread anger among the masses.
Reps not happy with petrol price hike.
Photo credit: Asiwaju Bola Ahmed Tinubu
Source: Facebook’Revert to old fuel price’: Reps tell FGThe federal lawmakers, therefore, called on the Bola Tinubu-led government to immediately reverse the hike in the price of fuel and cooking gas.
The legislators’ resolution followed the adoption of a motion of urgent public importance moved on the floor of the green chamber by Kingsley Chinda, the minority leader, and 100 others on Wednesday, October 16, Premium Times noted.
Titled, ‘Urgent need to suspend the increased cost of petrol and cooking gas in the country and provide a stop-gap,’ the motion asked the Nigerian National Petroleum Company Limited (NNPCL), and the ministry of petroleum resources, to increase local refining capacity. It also called on the Central Bank of Nigeria (CBN), to implement monetary policies that will mitigate the adverse effect of fuel price hike on inflation.
Chinda said:
“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.”Legit.ng reports that Chinda’s colleagues, Ali Isa, Yusuf Gagdi, Aliyu Madaki, and George Ozodinobi, all sent similar warning messages to the Tinubu government.
Fuel price: SERAP drags Tinubu to courtEarlier, Legit.ng reported that the Socio-Economic Rights and Accountability Project (SERAP) disclosed that it has filed a lawsuit at the federal high court, Abuja, against President Tinubu.
SERAP dragged President Tinubu to court over his alleged failure to direct the NNPCL to reverse “the apparently unlawful increase in the pump price of petrol.”
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Source: Legit.ng
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