Reps demand reversal of Petrol, Cooking Gas Prices

By ruth MALAGU

A Petrol Station in Lagos

The House of Representatives has called on the Federal Government to reverse the recently Increased Prices of Premium Motor Spirit (PMS), otherwise known as Petrol, and Cooking Gas.

The call was sequel to a Resolution to a Motion by the Minority Leader,  Kingsley Chinda (PDP-Rivers) at Plenary in Abuja on Wednesday.

Chinda, while moving the Motion, stressed the need for interventions targetted at Price Relief, Tax Reductions, or Subsidies on Cooking Gas, also called Liquefied Petroleum Gas (LPG) for Low-Income Households.

He noted that Nigeria, as an Oil-Producing Nation, had historically relied on Petroleum Products and Cooking Gas (LPG) as Essential Sources of Energy for both Domestic and Industrial purposes.

The Lawmaker stated that in recent months, the Prices of Petrol and Cooking Gas had skyrocketed and continued to do so, thus creating an unsustainable Financial burden on Ordinary Nigerians and exacerbating the Cost of Living.

According to him, the removal of Fuel Subsidies, coupled with Global Oil Price volatility and the depreciation of the Naira, had contributed significantly to the rising Cost of Petrol and Cooking Gas for Households.

 

Credit NANp Texts excluding Headline