“Fuel price may hit N1,000 if not checked” – Reps express concern

Gaddafi IbrahimJuly 20, 20232 min

Sponsor of the motion Rep. Ikenga Imo Ugochinyere decried the unilateral increase in the price of fuel to N617 per litre, adding that it has resulted in a sudden increase in the cost of transportation

 

 

 

The House of Representatives at its sitting on Wednesday, expressed concern over the effects of recent hike in the price of Premium Motor Spirit (PMS) on Nigerians.

To this end, it summoned the Group Managing Director of the Nigerian National Petroleum Corporation Limited (NNPCL), and independent marketers in the country to appear before the parliament to explain the rationale behind the sudden increase.

The decision followed the adoption of a motion on the urgent need to investigate the persistent increase in the price of Premium Motor Spirit (PMS) in Nigeria.

READ ALSO: Reps to investigate NNPC’s alleged non-remittance of N2trn in revenues

 

Sponsor of the motion Rep. Ikenga Imo Ugochinyere (PDP, Imo) decried the unilateral increase in the price of fuel to N617 per litre, adding that it has resulted in a sudden increase in the cost of transportation which inadvertently, affects other areas including, the price of food.

Ugochinyere said if the issue is not immediately addressed, there is likelihood the price will further increase to one thousand (1,000) naira per liter before the end of the year, a situation he said will make life more difficult for Nigerians.

The lawmaker further noted the need to summon the Group Managing Director of the Nigerian National Petroleum Corporation Limited (NNPCL), to appear before the House to explain the rationale behind the sudden increase.

 

READ ALSO: Senate to probe fuel subsidy, under-recovery regime under Buhari’s Administration

 

Hon Ugochinyere therefore called for the constitution of an Ad-hoc committee to investigate the persistent increase in the Price of PMS.

In his remarks, Deputy Speaker, Benjamin Kalu, who also lamented the situation, encouraged the Ad-hoc Committee when constituted, to handle the assignment swiftly, adding that the membership of the committee will cut across the entire spectrum of the country as it affects every Nigerian.

 

Gaddafi Ibrahim

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