The Minority Caucus of the House of Representatives has asked for an urgent reversal of the recent hike in petrol prices, claiming that it will undoubtedly exacerbate Nigerians’ hardship.
The caucus stated in a statement on Thursday that the unilateral move of raising the price of Premium Motor Spirit violates the principles of transparency, accountability, and fairness that should drive choices affecting citizens’ lives.
The Minority Leader, Kingsley Chinda, issued a statement titled “Reverse petrol prices now,” urging the President to immediately implement urgent measures to address the link between dire economic conditions and social unrest rather than creating conditions that exacerbate the already dire economic conditions.
The statement reads: “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, characterised by rising unemployment, soaring inflation, and widening inequality, have placed immense pressure on the livelihoods of citizens.
“This government must learn lessons from the 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 stabilise the economy without placing an additional burden on the people.”
