The Nigerian House of Representatives has called on the federal government to reverse the recent increase in petrol and cooking gas prices.
This resolution was unanimously adopted during the plenary session on Wednesday, October 16, after a motion was jointly sponsored by Kingsley Chinda, the minority leader; Aliyu Madaki, the deputy minority leader; and 109 other representatives.
On October 9, the Nigerian National Petroleum Company (NNPC) Limited raised the price of petrol across its retail outlets nationwide, sparking widespread concern among the public
Aliyu Madaki, who proposed the motion, emphasized the escalating financial strain on the citizens due to the soaring costs of gasoline and cooking gas in recent months. He pointed to several reasons for the price increase, including the removal of fuel subsidies, the volatility of global oil prices, and the depreciation of the naira. According to him, these factors have led to a significant rise in household expenses.
“The escalating petrol and gas prices are impacting the cost of transportation, food, essential goods, and healthcare, pushing many families into deeper financial hardship,” Madaki said.
He further noted that businesses, especially small and medium-sized enterprises (SMEs), are struggling with rising operational costs, which is threatening economic stability and job security. The lawmaker also expressed concern about the federal government’s efforts to repair domestic refineries, saying they have not yielded meaningful results in addressing the fuel crisis.
Madaki warned that unless urgent action is taken to control the rising cost of petrol and cooking gas, Nigeria risks entering an economic crisis, leading to increased crime rates, higher poverty levels, and even a rise in mortality rates.
However, not all lawmakers supported the motion. Sada Soli from Katsina argued that the motion was unnecessary, citing an ongoing investigation by a joint ad hoc committee of the House and Senate into the issue. George Ozodinobi from Anambra pointed out that the recent petrol price hike has undermined the newly approved N70,000 minimum wage, saying, “Our people cannot transport their farm produce to the market…there is an increase in the prices of food. We must pressure the government.”
Olumide Osoba from Ogun suggested referring the motion to the joint ad hoc committee of the House and Senate for further review. Despite the opposing views, the motion was adopted following a voice vote presided over by Tajudeen Abbas, the Speaker of the House.
As a result, the House called on the federal government to “take immediate steps to stabilize petrol and cooking gas prices through targeted interventions such as temporary price relief measures, tax reductions, or subsidies on LPG for low-income households.”
The House also called upon the National Non-Ferrous Metal Corporation (NNPCL), the Ministry of Petroleum Resources, and other pertinent agencies to accelerate the repair and maintenance of domestic refineries, and to enhance local refining capacity to lessen reliance on imported petroleum products. Furthermore, they requested the Central Bank of Nigeria (CBN) to enact monetary policies aimed at mitigating the impact of fuel price increases on inflation, especially concerning essential goods.
Other Articles
