The House of Representatives has rejected a motion seeking to stop the increase in price of Premium Motor Spirit and the reversal to the old price of N537 per litre.
On Tuesday, July 18, 2023, fuel prices hit ₦617 per litre as marketers adjusted pumps with many Nigerians calling on the government to put palliative in place to cushion the effect of the price hike on transportation.
Hon. Ikenga Ugochinyere, while moving the motion on Wednesday, July 19, 2023, urged the House to carry out an investigation into the sudden increase in the price of petrol and its effect on the cost of transportation across Nigeria.
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Ugochinyere argued that the Constitution of the Federal Republic of Nigeria, 1999 empowers the National Assembly to conduct investigations into the activities of any authority.
The lawmaker said the marketers increased the petrol price from ₦537 to ₦617 on Tuesday without conferring with the relevant government agencies.
He added that the hike in the price of fuel would heap great suffering and hardship on Nigerians.
However, the House resolved to investigate the sudden increase in the price of petrol but rejected the suggestion to revert to the old price.
The House explained that ordering the suspension of the price increase would amount to pre-empting the work of its investigative committee.
The House also asked its committee to propose palliative measures to tackle the suffering of the people.
