The House of Representatives Committee on Petroleum Resources, Upstream, has called for a reversal of the recent fuel price increase, urging the Federal Government and the Nigerian National Petroleum Company Limited, NNPCL, to restore the previous price.
Rep. Alhassan Ado-Doguwa, Chairman of the committee, condemned the price hike as unacceptable and criticized the practice of private companies exploiting systemic gaps to generate excessive profits at the expense of Nigerians. In a statement issued in Abuja, Doguwa stressed that the price increase exacerbates the difficulties currently faced by citizens.
“We urge the Federal Government and of course, the NNPCL to consider the plight of Nigerians and suspend this recent increase in pump price,” Doguwa said. He emphasized the need to engage with stakeholders to find solutions to the problem, highlighting that the current economic challenges require a more supportive approach.
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Doguwa, who also leads the Special Committee on Crude Oil Theft and Pipeline Vandalism, reiterated his commitment to addressing the issue of revenue loss due to crude oil theft. He announced plans to collaborate with security agencies to enhance the protection of oil pipelines and other critical infrastructure.
“We believe that a return to the old pump price will calm frayed nerves, thus enabling Nigerians to go about their daily activities with ease,” he added.
Additionally, Doguwa encouraged Nigerians to support President Bola Tinubu’s administration as it works to reform the oil and gas sector. He expressed confidence that the implementation of the Petroleum Industry Act and the revival of the nation’s refineries will ultimately benefit Nigeria’s oil and gas industry.
“By resuming operations at the Port Harcourt and Warri refineries, we anticipate resolving these challenges and reaping the benefits of our oil and gas resources,” he concluded.
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