The Minority Caucus of the House of Representatives has strongly condemned the recent increase in petrol prices announced by the Nigerian National Petroleum Corporation (NNPC). In a statement issued by Rep. Kingsley Chinda, the caucus criticized the decision as “ill-timed” and “grossly insensitive,” given the current economic hardships faced by Nigerians.
Key Points from the Statement:
- Economic Impact: The caucus argued that the price hike would exacerbate the financial struggles of ordinary Nigerians, leading to higher transportation costs and increased prices for essential goods and services. They warned that this would erode the purchasing power of millions and push more families into poverty.
- Lack of Consultation: The decision was criticized for being made without adequate consultation with relevant stakeholders, including the National Assembly. The caucus highlighted that this lack of transparency and accountability disregards the principles that should guide such significant decisions.
- Call for Reversal: The Minority Caucus is urging the Federal Government to immediately reverse the price increase. They suggested that the government should focus on rehabilitating local refineries, combating corruption in the petroleum sector, and ensuring that subsidies benefit the masses.
- Wider Implications: The statement warned that the economic instability caused by the price hike could lead to broader social and political unrest. The caucus expressed concerns about potential protests and instability, drawing parallels with past national protests triggered by economic conditions.
- Request for Sustainable Solutions: In addition to reversing the price increase, the caucus called for the implementation of more sustainable measures to stabilize the economy without placing further burdens on the citizens.
The Minority Caucus reaffirmed its commitment to advocating for policies that prioritize the welfare and well-being of the Nigerian people, urging the Federal Government to address the current economic challenges with urgency and sensitivity.
