The House of Representatives Committee on Petroleum Resources (Upstream) has demanded the reversal of fuel to the old price, urging the Federal Government and the Nigerian National Petroleum Company Ltd. (NNPCL) to comply.
Rep. Alhassan Ado-Doguwa, the Chairman of the committee, described the hike in petrol price as unacceptable.
“We urge the Federal Government and, of course, the NNPCL to consider the plight of Nigerians and suspend this recent increase in pump price,” he said.
According to him, Nigerians were currently going through a lot of challenges.
“Let us revert to the old pump price as soon as possible and probably intensify engagements with major stakeholders to address the problem,” he added.
Doguwa also pledged to tackle the challenge caused by the loss of revenue to the government owing to crude oil theft.
The lawmaker advised Nigerians to give the President Bola Tinubu-led administration a chance to reposition the oil and gas sector.
He stated that the Petroleum Industry Act, coupled with the effort to revive the nation’s refineries, would ensure that Nigeria would soon reap the benefits of its oil and gas endowments.
“We believe that with interventions the government is making to commence operations at Port Harcourt and Warri refineries, these challenges will end,” he said.
The NNPC Ltd had on Tuesday directed its fuel sales outlets to increase their pump prices from the average of N617 to N897, a development which has almost immediately spiked prices, including market commodities and transportation.
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