Osamagbe Imadiyi
The recent increase in gas pump prices has sparked social unrest, the House of Representatives warned on Wednesday. As a meeting between labor leaders and the Federal Government regarding the hike in gas prices on Wednesday came to a deadlock, the Green Chamber issued the warning.
In Abuja, NNPC retail locations increased the price of gasoline last week from N897 to N1,030 per litre, while in Lagos, the price increased to N998 from N868. Comparable increases were seen in other regions.With an increase of roughly 14.8%, or N133, this is the second price increase in a month. The country’s food and transportation expenses increased as a result of the development.
Both organized labor and the organized private sector called for an abrupt end to the price increase. The Nigerian Labour Congress and Trade Union Congress demanded an immediate reversal of the price increase and denounced it.
However, considering the current state of the nation’s economy, the House addressed the matter in plenary and urged the Federal Government to immediately undo the increase in the price of cooking gas and gasoline. A motion of urgent public importance moved on the floor of the Green Chamber by the Minority Leader, Kingsley Chinda, along with one hundred other members was adopted before the House voted on a resolution asking the executive branch to intervene.
Speaking on the main points of the motion, Chinda, a PDP member, voiced concern about the rising cost of cooking gas and gasoline, claiming that this development was making life more expensive for average Nigerians and placing an unsupportable financial strain on them.
He said, “The removal of fuel subsidy coupled with global oil price volatility and the naira depreciation has contributed significantly to the rising cost of petrol at the pump and cooking gas for households.
“We are worried that the escalating fuel and gas prices are impacting the cost of transportation, food, essential goods and healthcare, further increasing inflation and pushing many families into deeper financial hardship”.
After the meeting, Minister of Information Muhammad Idris declared that there would be ongoing communication with labor leaders.
