The Minority Caucus in the House of Representatives on Wednesday rejected the increase in the pump price of fuel from N148 to N151. 56 announced by the Petroleum Product Marketing Company (PPMC) describing it as unacceptable.
This was contained in a statement made available to newsmen in Abuja by the Minority Leader of the House of Rep, Ndidu Elumelu said that the new pump price would result in an increase in the already high cost of consumer goods and services, and worsen the current economic hardship being suffered by Nigerians.
According to Elumelu “the minority caucus in the House of Representatives, rejects the announced increase in the pump price of fuel.
“This is because such increase will directly result in more hardship on our citizens, particularly at this critical time when the majority of Nigerians, across the country, are struggling to survive under the burden of the high cost of living and low purchasing power occasioned by the prevailing economic challenges.
“Any increase in the cost of an essential commodity like fuel will therefore bring more hardship to the people and as such should not be contemplated.”
The Caucus challenged the All Progressives Congress (APC)-led Federal Government to rather come up with strategies that would lead to decrease rather than increase in the cost of domestic fuel, including revamping the nation’s refineries, instead of always resorting to price increase, to the detriment of Nigerians.
The minority caucus, therefore, directed the PPMC to immediately rescind its announcement and revert to the former price, with a view of a downward review.
YOU SHOULD NOT MISS THESE HEADLINES FROM NIGERIAN TRIBUNE
Lessons From Fani-Kayode’s ‘Stupid’
The Femi Fani-Kayode experience was needless and plainly avoidable. But something tells me it won’t be the last. There is the feeling today in power circles that because of the ascendancy of the Internet and its platforms of social engagements, the press as we knew it is now impotent and could be humiliated and called stupid without consequences. The truth of the media’s undying powers should be clear in what Femi just went through…N151 fuel pump increase N151 fuel pump increase
Buhari Approves Transfer Of NIMC To Communications Ministry
President Muhammadu Buhari has approved the transfer of the National Identity Management Commission (NIMC) to the Federal Ministry of Communications and Digital Economy. A statement signed by the Minister‘s Spokesperson, Mrs Uwa Suleiman, on Monday in Abuja, said that the approval was based on Buhari’s consideration for the critical role of NIMC towards the realisation of the objectives of the National Digital Economy Policy and…N151 fuel pump increase N151 fuel pump increase
Businesses May Not Normalise Till August 2021—Report
BUSINESSES and brands, hoping to return to ‘winning ways’ soon, after the devastating effects of the COVID 19 pandemic, may need to wait a little bit longer, as a recently-released CEO Report, from Philips Consulting Limited PCL, has predicted that it would take another 12 months, August 2021, for the nation’s business environment to fully activate and operate optimally…N151 fuel pump increase N151 fuel pump increase