The House of Representatives has called on the Federal Government to reverse the recent increase in the pump price of petrol and cooking gas, citing the growing economic burden on Nigerians. Lawmakers expressed concerns that the soaring costs of fuel and gas threaten the livelihoods of millions across the country, urging swift action to alleviate the financial strain.
Reps Demand Immediate Action on Fuel Price Hike
In a motion led by Deputy Minority Leader Aliyu Madaki, co-sponsored by 111 other members during Wednesday’s plenary, the House emphasised the urgent need for the government to roll back the recent price hike. Madaki highlighted that the removal of fuel subsidies, alongside fluctuations in global oil prices and the naira’s depreciation, has led to “unsustainable financial burdens on ordinary Nigerians.” He warned that the rising cost of petrol and cooking gas is exacerbating inflation, affecting transportation, food, and healthcare costs, and plunging many families into deeper poverty.
Impact on Small Businesses and Households
Madaki further noted that small and medium-sized enterprises (SMEs) are struggling to stay afloat as operational costs have soared due to the increased fuel prices. He also pointed out the Federal Government’s earlier commitment to repair domestic refineries and increase local refining capacity, stating, “The government has yet to deliver significant results in this regard.”
Social and Economic Risks Highlighted
“Mindful that the rising cost of petrol and cooking gas poses a significant threat to the livelihood of millions of Nigerians,” Madaki warned, adding that “unchecked inflationary pressure caused by the increased prices can lead to social unrest, increased poverty rates, and negative long-term economic effects.” He also raised concerns that if pragmatic steps are not taken to control fuel and gas prices, the nation could face a deepening economic crisis, potentially leading to higher crime rates and mortality.
House Calls for Targeted Interventions
Following the debate, the House urged the Federal Government to implement temporary relief measures, such as tax reductions or subsidies on liquefied petroleum gas (LPG) for low-income households, to stabilise prices. Lawmakers also called for state governments to adopt policies that reduce the financial burden on citizens, including waiving transportation taxes and levies affected by high fuel costs.
Push for Domestic Refining Capacity
The House pressed the Nigerian National Petroleum Corporation (NNPC) and the Ministry of Petroleum Resources to accelerate the repair and maintenance of domestic refineries to lessen the nation’s reliance on imported petroleum products. The motion also mandated the House Committees on Petroleum Downstream and Legislative Compliance to ensure swift implementation of these measures and report back within two weeks for further legislative action.
The lawmakers’ intervention underscores the pressing need for strategies that address both immediate economic relief and long-term solutions to Nigeria’s energy and fuel challenges.