The Minority Caucus in the House of Representatives has rejected the reported increase in the pump price of fuel from ₦148 to ₦151.56.
Minority Leader of the House, Hon. Ndidu Elumelu, made the position of the Lawmakers known in a statement on Wednesday, September 2, 2020.
Hon. Ndidu Elumelu described the announced price as unacceptable, saying it would result in an increase in the already high cost of consumer goods and services, as well as worsen the current economic hardship being suffered by Nigerians.
According to the Minority Leader, the opposition Lawmakers are challenging the All Progressives Congress (APC)-led Government to rather come up with strategies that will lead to decrease and not increase in the cost of domestic fuel.
He stressed that it was important for the Government to revamp the Nation’s refineries, instead of resorting to fuel price increase at the detriment of Nigerians.
Hon. Elumelu, therefore, directed the PPMC to immediately rescind the purported announcement and revert to the former price, with a view to further reviewing it downward.
The statement was in reaction to media reports that the Petroleum Product Marketing Company (PPMC) had increased the ex-depot price of Premium Motor Spirit, also known as petrol.
The PPMC, a subsidiary of the Nigerian National Petroleum Corporation (NNPC), is said to have increased the price from ₦138.62 per litre to ₦151.56 per litre.