The Minority caucus of the House of Representatives has demanded an immediate reversal of the recent increase in petrol prices, arguing that it will only worsen the hardships faced by Nigerians. In a statement released on Thursday, the caucus criticized the unilateral decision to raise the price of Premium Motor Spirit, asserting that it ignores crucial principles of transparency, accountability, and fairness essential for decisions impacting the public.
Minority Leader Kingsley Chinda, in a statement titled “Reverse Petrol Prices Now,” called on the President to urgently address the link between severe economic conditions and social unrest. Chinda emphasized that instead of exacerbating existing economic challenges, the government should work to alleviate the burden on citizens.
The caucus highlighted that Nigeria is currently struggling with unprecedented economic difficulties, including rising inflation, high unemployment, and a depreciating Naira. They warned that further increases in petrol prices will intensify the suffering of ordinary Nigerians by driving up the costs of transportation, food, and other essential goods and services, thereby eroding the fragile purchasing power of many and pushing more families into poverty.
The Minority caucus expressed concern that the decision by the NNPC appears to have been made without sufficient consultation with key stakeholders, including the National Assembly. They argued that this lack of consultation disregards essential principles of transparency and fairness.
The statement also noted that the worsening economic conditions have led to widespread protests, reflecting the risk that economic instability could escalate into broader social and political unrest. The caucus urged the government to urgently address the connection between economic hardship and social instability and to implement sustainable measures that stabilize the economy without further burdening the people
Written By;Idu Sunita