The Minority Caucus of the House of Representatives has issued a strong condemnation of the recent petrol price hike announced by the Nigerian National Petroleum Corporation (NNPC). In a statement signed by Caucus Leader, Rep. Kingsley Chinda, the group described the move as “ill-timed” and “grossly insensitive” to the current economic challenges faced by Nigerians.
The caucus argued that the price increase will worsen the suffering of the average Nigerian, leading to higher transportation costs, food prices, and other essential goods and services. They also expressed concern that the decision was made without adequate consultation with relevant stakeholders, including the National Assembly.
The Minority Caucus urged the Federal Government to intervene and reverse the price increase, and to explore more sustainable measures to stabilize the economy. They suggested prioritizing the rehabilitation and upgrading of local refineries, curbing corruption in the petroleum sector, and ensuring that subsidies benefit the masses.
The caucus reaffirmed its commitment to advocating for policies that prioritize the welfare and well-being of all citizens. The statement emphasized that the nation’s current economic challenges, including rising inflation, unemployment, and the depreciating value of the Naira, make the price increase particularly ill-timed and burdensome for Nigerians.
