The Minority Caucus of the House of Representatives has issued a stern call for the immediate reversal of the recent increase in petrol prices, warning that it will only exacerbate the suffering of Nigerians.
In a statement titled “Reverse Petrol Prices Now,” the Minority Leader, Kingsley Chinda, emphasized that the unilateral decision disregards principles of transparency, accountability, and fairness.
The caucus expressed deep concern that the decision was made without adequate consultation with relevant stakeholders, including the National Assembly.
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They argued that the increase will have far-reaching ripple effects, impacting transportation, food, and essential goods and services, ultimately eroding the purchasing power of millions of citizens and pushing more families into poverty.
The statement reads, “At a time when the nation is grappling with unprecedented economic challenges, including rising inflation, unemployment, and the depreciating value of the Naira, any further increase in the price of petrol will only exacerbate the suffering of the average Nigerian.”
The Minority Caucus urged the Federal Government to urgently intervene and reverse the increase, exploring sustainable measures to stabilize the economy without placing additional burdens on the people.
They warned that failure to address the connection between dire economic conditions and social unrest could lead to further instability.
