The Minority Leader of the Nigerian House of Representatives, Honourable Kingsley Chinda (PDP, Rivers State), has called for the immediate reversal of the new fuel price regime. In a statement released on behalf of the House Minority Caucus, Chinda said the development was ill-timed and grossly insensitive to the harsh economic conditions being experienced by Nigerians across the country.
He said at a time when the nation was grappling with unprecedented economic challenges, including rising inflation, unemployment, and the depreciating value of the naira, any further increase in the price of petrol would only exacerbate the suffering of the average Nigerian.
“The ripple effects of such an increase are far-reaching, impacting the cost of transportation, food, and other essential goods and services. This will ultimately erode the already fragile purchasing power of millions of our citizens, pushing more families into poverty.
“The Minority Caucus is deeply concerned that this decision by the NNPC appears to have been made without adequate consultation with relevant stakeholders, including the National Assembly, which represents the interests of the people. This unilateral action disregards the principles of transparency, accountability, and fairness, which should guide decisions affecting the lives of the citizenry.
“The current dire economic conditions, characterised by rising unemployment, soaring inflation, and widening inequality, have placed immense pressure on the livelihoods of citizens. These hardships have understandably triggered widespread protests as people demand relief and accountability from those in power.
“The resulting unrest and chaos serve as stark reminders that economic instability can quickly escalate into broader social and political instability,” he said.
The statement emphasised the need for all sectors, including government, businesses, and civil society, to tackle economic challenges and prevent further instability, adding that President Tinubu’s government must urgently address the link between worsening economic conditions and social unrest.
It said failing to do so risks fueling more protests and violence from unemployed youths, reminding the government of the destructive impact of past national protests driven by severe economic issues.
The opposition lawmakers called on the federal government to urgently intervene and reverse this unwarranted increase in petrol prices, urging the government to explore and implement more sustainable measures to stabilise the economy without burdening the people.
“This includes prioritising the rehabilitation and upgrading of our local refineries, curbing corruption within the petroleum sector, and ensuring that subsidies genuinely benefit the masses rather than a few privileged individuals.
“The Minority Caucus stands with the Nigerian people in rejecting this petrol price hike and will continue to advocate for policies prioritising the welfare and well-being of all citizens. We urge the government to listen to the people’s voice and take immediate steps to alleviate their suffering rather than aggravate it,” the statement added.
