The Minority Caucus of the House of Representatives has issued a strong statement condemning the recent increase in petrol prices, calling on the federal government to immediately reverse the decision.
The caucus, led by Minority Leader, Kingsley Chinda, argued that the unilateral action by the NNPC disregards principles of transparency, accountability, and fairness, and will only exacerbate the suffering of Nigerians.
According to the statement, the decision to increase petrol prices by the NNPC was made without adequate consultation with relevant stakeholders, including the National Assembly, which represents the interests of the people.
He said that lack of consultation has raised concerns about the government's commitment to transparency and accountability.
The Minority Caucus warned that the price hike will have far-reaching consequences, impacting not only the cost of transportation but also the prices of food and other essential goods and services.
This, he said, will erode the purchasing power of millions of citizens, pushing more families into poverty and exacerbating the already dire economic conditions.
The statement emphasized that the current economic challenges facing the country, including rising inflation, unemployment, and a depreciating Naira value, have already placed immense pressure on citizens' livelihoods. “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 government's decision to increase petrol prices will only add to this pressure, creating a perfect storm of economic hardship and social unrest.
The Minority Caucus urged the government to take immediate action to address the connection between dire economic conditions and social unrest. They warned that failure to do so may lead to further social and political instability, citing the destructive effects of national protests against bad governance triggered by depressing economic conditions.
The statement concluded by calling on the Federal Government to urgently intervene and reverse the petrol price hike. “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 caucus emphasized that the government must learn lessons from past experiences and take proactive steps to address the economic challenges facing the nation. They urged the government to explore and implement more sustainable measures to stabilize the economy without placing an additional burden on the people.
