The Minority Caucus of the House of Representatives has vehemently rejected the recent fuel price increase by the Nigerian National Petroleum Company Limited, NNPCL, warning the Federal Government to urgently reverse the increase.
Condemning the price hike, the caucus said the development
was not only ill-timed but also grossly insensitive to the harsh economic
conditions being experienced by Nigerians across the country.
A statement signed by the Minority Leader of the House of
Representatives, Kingsley Chinda, early Thursday, warned the fuel price hike
will ultimately erode the already fragile purchasing power of millions of
citizens, pushing more families into poverty.
He noted that the decision came at a time when the nation
was grappling with unprecedented economic challenges, including rising
inflation, unemployment, and the depreciating value of the Naira, warning that
any further increase in the price of petrol would only exacerbate the suffering
of the average Nigerian.
The Minority leader said the caucus was deeply concerned
that the 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.
The caucus also urged the federal government to explore and
implement more sustainable measures to stabilize the economy without placing an
additional burden on the people.
”The ripple effects of such an increase are far-reaching,
impacting the cost of transportation, food, and other essential goods and
services.
”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. 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 excuses for the army of youths
who are jobless to return to occupy the streets and unleash violence on our
country.
“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 stabilize
the economy without placing an additional burden on the people.
“This includes prioritizing the rehabilitation and upgrading
of our local refineries, curbing corruption within the petroleum sector, and
ensuring that subsidies genuinely benefit the masses rather than a few
privileged individuals.
”The Minority Caucus stands with the Nigerian people in
rejecting this petrol price hike and will continue to advocate for policies
that prioritize the welfare and well-being of all citizens.
“We urge the government to listen to the voice of the people
and take immediate steps to alleviate their suffering, rather than aggravate
it,” he stated.
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