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.