The House of Representatives in Nigeria rejected a motion to reverse the recent hike in fuel pump prices. The motion, put forward by a member of the House, called for the price to be reverted to the previous rate of N537 per liter. However, the motion was not successful, and instead, the House decided to establish an ad-hoc committee to investigate the continuous increase in fuel pump prices.
The House stated that suspending the price increase would preempt the work of the investigating committee, as it had already been tasked with examining the reasons for the hike. The committee will also provide recommendations for implementing palliative measures to alleviate the suffering caused by the price increase.
The motion, titled “The need to investigate the incessant increase in fuel pump price,” called for the Group Managing Director of the Nigeria National Petroleum Company Limited (NNPCL) and oil marketers to appear before the ad-hoc committee to explain the reasons for the increase. The committee will also explore ways to ensure the effective distribution of palliatives to Nigerians to mitigate the impact of subsidy elimination.
The member who presented the motion expressed concern about the hardship faced by Nigerians due to the frequent fuel price hikes. He emphasized the potential negative consequences on transportation costs and food prices, stating that the increase would cause significant pain and hardship for the public.
The House rejected an amendment that would have directed the NNPCL to suspend the new pump price and revert to the previous rate. The lawmakers unanimously rejected the motion, as they did not want to influence the direction of the ad-hoc committee’s investigation.
Instead, the House decided to summon the Group Managing Director of NNPCL to provide information regarding the ongoing fuel price increases. The ad-hoc committee was given a deadline of four weeks to complete its inquiry and submit a report to the House for further legislative action.
