By Abubakar Yunusa
The minority caucus in the house of representatives has asked the federal government to immediately reverse the latest hike in the petrol pump price.
In a statement on Wednesday, Kingsley Chinda, leader of the minority caucus, said the increase in the petrol pump price is “ill-timed”.
On Tuesday, The Paper observed that the Nigerian National Petroleum Company (NNPC) Limited had increased the price of petrol across its retail outlets to N855 per litre — from about N600.
The price of the product was increased at petrol stations across the country, ranging from N855 per litre to over N1,000.
Chinda said the hike is “grossly insensitive” to the harsh economic conditions currently being experienced by Nigerians.
“At a time when the nation is grappling with unprecedented economic challenges, including rising inflation, unemployment, and the depreciating value of the Naira, any further increase in the price of petrol will only exacerbate the suffering of the average Nigerian,” he said.
“The ripple effects of such an increase are far-reaching, impacting the cost of transportation, food, and other essential goods and services. This will ultimately erode the already fragile purchasing power of millions of our citizens, pushing more families into poverty.
“The Minority Caucus is deeply concerned that this decision by the NNPC appears to have been made without adequate consultation with relevant stakeholders, including the National Assembly, which represents the interests of the people.
“This unilateral action disregards the principles of transparency, accountability, and fairness, which should guide decisions affecting the lives of the citizenry.
“The current dire economic conditions, characterized by rising unemployment, soaring inflation, and widening inequality, have placed immense pressure on the livelihoods of citizens.
“These hardships have understandably triggered widespread protests, as people demand relief and accountability from those in power. The resulting unrest and chaos serve as stark reminders that economic instability can quickly escalate into broader social and political instability.
“While it is crucial for all stakeholders, including government, businesses, and civil society, to work collaboratively to address these economic challenges and restore stability before the situation deteriorates further, Tinubu’s government should as a matter of urgency address the connection between dire economic conditions and social unrest rather than create conditions that exacerbate the already dire economic conditions.
“Not doing so merely provides grounds to the army of youths who are jobless to return to occupy the streets and unleash violence on our country.”
Chinda said the federal government must learn from depressing and excruciating economic conditions that triggered protests against bad governance.
“This government must learn lessons from the destructive effects of the national protests against bad governance, triggered by depressing and excruciating economic conditions,” he said.
“We, therefore, call on the Federal Government to urgently intervene and reverse this unwarranted increase in petrol prices.”
The lawmaker asked the government to explore and implement more sustainable measures to stabilise the economy without placing an additional burden on the people, including prioritising the rehabilitation and upgrading of local refineries, curbing corruption in the petroleum sector, and ensuring that subsidy genuinely benefit the masses and not a few privileged individuals.
“The Minority Caucus stands with the Nigerian people in rejecting this petrol price hike and will continue to advocate for policies that prioritize the welfare and well-being of all citizens,” he said.
Chinda urged the government to listen to Nigerians and take immediate steps to alleviate their suffering, rather than aggravate it.