House Of Reps Asks Tinubu, NNPCL To Reverse Petrol Price Hike To N617 Amid Soaring Living Costs
The hike has triggered an immediate and substantial surge in the prices of commodities and transportation, consequently impacting the purchasing power of consumers.
Following a recent directive by the Nigerian National Petroleum Company Ltd. (NNPCL) to increase petrol prices from N617 to N897, the House of Representatives Committee on Petroleum Resources (Upstream) has called on President Bola Tinubu to revert to the previous price.
The hike has triggered an immediate and substantial surge in the prices of commodities and transportation, consequently impacting the purchasing power of consumers.
The Committee chairman Alhassan Ado-Doguwa said in a statement that, “We urge the federal government and, of course, the NNPCL to consider the plight of Nigerians and suspend this recent increase in pump price.”
He continued, “Let us revert to the old pump price as soon as possible and probably intensify engagements with major stakeholders to address the problem.”
Doguwa, who also heads the Special Committee on Crude Oil Theft and Vandalisation of Pipelines, promised to address the revenue losses from crude oil theft.
“As a special committee, we will aggressively seek modalities to interface with the youths and community leaders in the oil-producing areas,” he stressed.
This initiative aims to resolve issues stemming from frequent crude oil thefts that disrupt petrol supply.
“We are working in collaboration with security agencies in their quest to secure oil pipelines and other critical facilities in the country.
“We believe that a return to the old pump price will calm frayed nerves, thus enabling Nigerians to go about their daily activities with ease,” Doguwa noted.
He also encouraged Nigerians to support the Bola Tinubu administration’s efforts to reform the oil and gas sector.
“We believe that with interventions the government is making to commence operations at Port Harcourt and Warri refineries, these challenges will come to an end,” he said.
