Reps endorse N617 fuel pump price, despite public outcry

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2 years ago

Members of the House of Representatives on Wednesday rejected clarion calls to suspend the recent increase in the pump price of premium motor spirit (PMS) from N537 to N617 per litre.

The resolution on the motion seeking is coming about six days after the approval of N70 billion palliative for National Assembly members out of the proposed N500 billion palliative to cushion the effect of the fuel subsidy removal.

However, the lawmakers resolved to set up an Ad-hoc Committee to be drawn from six geopolitical zones of the Federation.

“The House also notes that Section 32 of the Petroleum Industry Act, 2021 saddles the Petroleum Midstream and Downstream Regulatory Authority with the task of regulating and monitoring technical and commercial midstream and downstream petroleum operations in Nigeria.

“The House is informed that on Tuesday 18th July, 2023 Petrol Pump Price was increased from N537 to N617 by Petrol marketers, without conferring with the relevant agencies of government.

“The House is disturbed that in view of the current socio-economic challenges being faced by Nigerians, a hike in the price of fuel will heap great suffering and hardship on Nigerians.”

To this end, the House resolved to investigate the sudden increase in the price of premium motor spirit and the resultant increase in transport fares across the country.

The lawmakers also urged the Ad-hoc Committee to propose palliative measures to be taken to ameliorate the sufferings of Nigerians.

The Ad-hoc committee is also find ways ensuring effective distribution of palliatives to Nigerians to cushion the effect of subsidy removal.

While noting that the House should not preempt the outcome of the investigation to be conducted by the Ad-hoc Committee, Hon. Kalu assured that the Ad-hoc Committee members will be drawn from six geopolitical zones of the Federation.