Fuel Price Increase Sparks Concerns
The House of Representatives has raised alarm over the recent hike in fuel prices, warning that it could lead to widespread social unrest. The warning comes as the Federal Government’s meeting with labour leaders regarding the petrol price increase ended in a deadlock. Prices have surged to over ₦1,000 per litre in some regions, leading to a nationwide outcry.
Labour Leaders Demand Reversal
During the meeting, the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) demanded the immediate reversal of the price hike. According to the unions, the recent increase in the price of Premium Motor Spirit (PMS) has worsened the living conditions of many Nigerians, leading to higher transportation and food costs across the country.
House of Representatives Steps In
In response to the crisis, the House of Representatives passed a motion urging the Federal Government to suspend the fuel price hike. The motion, moved by Minority Leader Kingsley Chinda, highlighted the hardship faced by Nigerians due to the rising cost of essential goods, transportation, and healthcare. Chinda noted that the continuous increase in fuel prices is pushing families deeper into poverty.
Impact on Businesses and Households
The House also expressed concern over the impact of the fuel price hike on small and medium-sized businesses. Lawmakers argued that increased operational costs are threatening the survival of businesses, leading to job losses and economic instability. The motion called on the government to expedite the repair of local refineries to reduce reliance on imported fuel.
Government’s Response
Following the meeting with labour leaders, Minister of Information Mohammed Idris stated that discussions would continue to resolve the issue. He assured the public that the government is taking steps to address the economic challenges caused by the fuel price increase and to stabilise the market in the long term.
Calls for Action
The House urged the Federal Government to explore alternative energy sources and implement policies that would alleviate the burden on citizens. As Nigerians await further discussions, the call for immediate relief remains urgent amid escalating fuel and gas prices.
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