The Minority Caucus in the House of Representatives has rejected the reported increase in the pump price of fuel from N148 to N151.56.
Minority Leader of the House, Ndidu Elumelu, made the position of the lawmakers known in a statement on Wednesday.
He described the announced price as unacceptable, saying it would result in an increase in the already high cost of consumer goods and services, as well as worsen the current economic hardship being suffered by Nigerians.
“The minority caucus in the House of Representatives rejects the announced increase in the pump price of fuel,” the lawmaker stated.
He added, “This is because such increase will directly result in more hardship on our citizens, particularly at this critical time when a majority of Nigerians across the country are struggling to survive under the burden of the high cost of living and low purchasing power occasioned by the prevailing economic challenges.
“Any increase in the cost of an essential commodity like fuel will, therefore, bring more hardship to the people and as such should not be contemplated.”
According to the minority leader, the opposition lawmakers are challenging the All Progressives Congress (APC)-led government to rather come up with strategies that will lead to decrease and not increase in the cost of domestic fuel.
He stressed that it was important for the government to revamp the nation’s refineries, instead of resorting to fuel price increase at the detriment of Nigerians.
Elumelu, therefore, directed the PPMC to immediately rescind the purported announcement and revert to the former price, with a view to further reviewing it downward.
The statement was in reaction to media reports that the Petroleum Product Marketing Company (PPMC) had increased the ex-depot price of Premium Motor Spirit, also known as petrol.
The PPMC, a subsidiary of the Nigerian National Petroleum Corporation (NNPC), is said to have increased the price from N138.62 per litre to N151.56 per litre.