- The House of Representatives Minority Caucus has demanded an urgent reversal of the recent petrol price increase
- Minority Leader Kingsley Chinda criticised the government for worsening economic conditions and social unrest
- The caucus argued that the price hike would exacerbate inflation, unemployment, and poverty
The House of Representatives Minority caucus has demanded the swift reversal of the recent petrol price increase, claiming it will undeniably worsen the suffering of Nigerian citizens.
Kingsley Chinda, the Minority Leader, released a statement with the title “Reverse Petrol Prices Now,” on Thursday, September 5, demanding that the President urgently implement strategies to address the connection between dire economic conditions and social unrest, rather than worsen the existing economic challenges.
Lawmakers warn petrol price hike will worsen economic crisis
The statement read, “At a time when the nation is grappling with unprecedented economic challenges, including rising inflation, unemployment, and the depreciating value of the Naira, any further increase in the price of petrol will only exacerbate the suffering of the average Nigerian.
“The ripple effects of such an increase are far-reaching, impacting the cost of transportation, food, and other essential goods and services. This will ultimately erode the already fragile purchasing power of millions of our citizens, pushing more families into poverty.
“The Minority Caucus is deeply concerned that this decision by the NNPC appears to have been made without adequate consultation with relevant stakeholders, including the National Assembly, which represents the interests of the people.
“This unilateral action disregards the principles of transparency, accountability, and fairness, which should guide decisions affecting the lives of the citizenry.
“The current dire economic conditions, characterized by rising unemployment, soaring inflation, and widening inequality, have placed immense pressure on the livelihoods of citizens.
Reps urge Government to address issues before violence erupts
“These hardships have understandably triggered widespread protests, as people demand relief and accountability from those in power.
“The resulting unrest and chaos serve as stark reminders that economic instability can quickly escalate into broader social and political instability.
“While it is crucial for all stakeholders, including government, businesses, and civil society, to work collaboratively to address these economic challenges and restore stability, before the situation deteriorates further, Tinubu’s government should as a matter of urgency address the connection between dire economic conditions and social unrest rather than create conditions that exacerbate the already dire economic conditions.
“Not doing so merely provides filips to the army of youths who are jobless to return to occupy the streets and unleash violence on our country.
Caucus criticises government, calls for urgent reversal
The caucus denounced the one-sided move to increase fuel prices, arguing that it undermines the principles of transparency, accountability, and fairness that should govern decisions affecting the public.
“This government must learn lessons from destructive effects of the national protests against bad governance, triggered by depressing and excruciating economic conditions.
“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 stabilize the economy without placing an additional burden on the people,” the statement further stated.
House of Representatives explains why it dissolved committee on fuel probe
Meanwhile, TheRadar earlier reported that the House of Representatives leadership had dissolved the ad-hoc committee investigating both the import of substandard petroleum products into Nigeria and the resurgence of fuel queues.
The spokesperson for the House, Akin Rotimi, said the decision to dissolve the committee was driven by negative media attention.