Price Increase: HOUSE OF REPS MINORITY CAUCUS REJECTS INCREASE IN FUEL PUMP PRICE

The Minority Caucus in the House of Representatives has rejected the increase in pump price of fuel from N148 to N151. 56 announced by the Petroleum Product Marketing Company (PPMC) on Wednesday.

The lawmakers, in a statement by the Minority Leader of the House of Representatives, Hon. Ndidu Elumelu, on Wednesday, September 2nd, described the announced increase as unacceptable as it will result in 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 majority of Nigerians, across the country, are struggling to survive under the burden of high cost of living and low purchasing power occasioned by the prevailing economic challenges.

“Any increase in the cost of essential commodity like fuel will therefore bring more hardship to the people and as such should not be contemplated”, the minority leader stated.

The opposition lawmakers challenged the All Progressives Congress (APC)-led government to rather come up with strategies that will lead to decrease rather than increase in the cost of domestic fuel, including revamping our 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

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