House of Representatives Committee Demands Reversal of Fuel Price Hike, Calls for Federal Government Action
The House of Representatives Committee on Petroleum Resources (Upstream) has called for an immediate reversal of the recent fuel price hike, urging the Federal Government and the Nigerian National Petroleum Company Ltd. (NNPCL) to restore the old price.
In a statement issued in Abuja, the Chairman of the committee, Rep. Alhassan Ado-Doguwa, described the increase in petrol prices as “unacceptable” and a burden on Nigerians already facing numerous economic challenges.
“The situation where private companies exploit gaps in the system to make arbitrary profits at the expense of Nigerians is inimical to the country’s progress,” Ado-Doguwa stated. “We urge the Federal Government and the NNPCL to consider the plight of Nigerians and suspend this recent increase in pump prices.”
He emphasized the need to revert to the old pump price as soon as possible while calling for intensified engagement with stakeholders to address the root causes of the issue.
Rep. Ado-Doguwa, who also chairs the Special Committee on Crude Oil Theft and Vandalisation of Pipelines, expressed concern over the loss of revenue due to crude oil theft and pipeline vandalism. He pledged that his committee would work closely with youths and community leaders in oil-producing areas to curb these activities.
“We are collaborating with security agencies to secure oil pipelines and other critical facilities. A return to the old pump price will help calm frayed nerves and allow Nigerians to go about their daily activities with ease,” he added.
The lawmaker also called on Nigerians to support President Bola Tinubu’s administration in its efforts to reform the oil and gas sector. He expressed confidence that the implementation of the Petroleum Industry Act (PIA) and the rehabilitation of the nation’s refineries would soon yield positive results for the country.
“With the government’s interventions to commence operations at the Port Harcourt and Warri refineries, these challenges will soon come to an end,” Ado-Doguwa said.
The Nigerian National Petroleum Company Ltd. (NNPCL) recently reportedly directed its fuel outlets to increase pump prices from an average of N617 to N897. This development has led to a sharp rise in prices, affecting market commodities and transportation costs across the country.
