The Minority caucus of the House of Representatives has called for the immediate reversal of the recent increase in prices of petrol, saying that it will no doubt increase the suffering of the Nigerians.
The caucus in a statement on Thursday, said the unilateral action of increasing the price of Premium Motor Spirit disregards the principles of transparency, accountability, and fairness, which should guide decisions affecting the lives of the citizenry.
The statement by the Minority Leader, Kingsley Chinda titled “reverse petrol prices now” asked the President to immediately put in place urgent measures to address the connection between dire economic conditions and social unrest rather than create conditions that exacerbate the already dire economic conditions.
The statement reads: “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.
“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.
“This government must learn lessons from destructive effects of the national protests against bad governance, triggered by depressing and excruciating economic conditions.
“We, therefore, call on the Federal Government to urgently intervene and reverse this unwarranted increase in petrol prices. We also urge the government to explore and implement more sustainable measures to stabilize the economy without placing an additional burden on the people.”
