FUEL PRICE HIKE: REPS REJECT CALL FOR SUSPENSION OF N617 NEW PRICE

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By F.A. Oduola

House of Representatives on Wednesday resolved to set up an ad-hoc committee to look into the continued increase in fuel pump prices following the recent hike.

The committee will also look into the proposed palliative measures to be taken to ameliorate the sufferings of Nigerians.

The resolutions came after Hon. Ikenga Ugochinyere made a motion of urgent national importance titled “The need to investigate the incessant increase in fuel pump price” in the plenary.

Moving the motion, Ugochinyere noted that the incessant hike in fuel prices has in turn caused hardship for Nigerians.

According to him, the high cost of transportation will in the coming days lead to a hike in food prices in the market, stressing that the increase will bring untold hardship to the people.

He said: “Mr Speaker, this is the people’s House and we represent the Nigeria people, very soon, with the way things are going, fuel will be sold for 1,000 per litre.

“On Tuesday 18th July, 2023 Petrol Pump Price was increased from N537 to N617 by Petrol marketers, without conferring with the relevant government agencies.

“In view of the current socio-economic challenges being faced by Nigerians, a hike in the price of fuel will heap great suffering and hardship on Nigerians.”

Incidentally, an amendment moved by another lawmaker asking the House to direct the NNPCL to suspend the new pump price of N617 and revert to the old price of N540 was put to vote by the presiding officer, Rep. Benjamin Kalu, but the lawmakers unanimously rejected the amendment by shouting ‘nay’.

The Deputy Speaker who presided over the plenary had said that the amendment would not be taken because they would not want to pre-empt what the ad-hoc committee’s investigation would be.

“I think on this issue, the market forces are reacting based on the fuel subsidy removal. Even though I would put the question, I do not want us to pre-empt what the committee would do. Let’s allow the committee to investigate and get back to the house on the matter”, Kalu said.

Adopting the motion after a favourable voice vote, the House therefore resolved to summon the Group Managing Director, GMD, NNPCL, Mr Mele Kyari in a bid to look into the incessant increments in fuel prices.

The Committee was given 4 weeks to conclude the investigation and report back to the House for further legislative action.