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The House of Representatives on Wednesday rejected a motion to stop increase in the price of Premium Motor Spirit (PMS) and revert to the old price of N537 per liter.
Rather, 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 House asked it’s committee propose palliative measures to be taken to ameliorate the sufferings of Nigerians.
The House said since it has already resolved to investigate the increase, it will amount to pre-empting the work of the investigative committee by ordering the suspension of the price increase.
Ugochinyere, the House asked the group Managing Director of the Nigeria National Petroleum Company Limited, Mele Kyari and oil marketers to appear before an ad hoc committee to explain the increase.
The ad hoc committee is also find ways ensuring effective distribution of palliatives to Nigerians to cushion the effect of subsidy removal.
Ugochinyere said that section 88 (1) and (2) of the Constitution of the Federal Republic of Nigeria, 1999 (As Amended) empowers the National Assembly to conduct investigations into the activities of any authority executing or administering laws made by the National Assembly.
He also said further 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.
According to him, 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.
He expressed concern 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.
