The House of Representatives has called on the Federal Government of Nigeria to reverse the recent Pump Price hike and take immediate steps to stabilise petrol and cooking gas prices through targeted interventions such as temporary price relief measures, tax reductions, or subsidies on LPG for low-income households;
They also called on the Nigerian National Petroleum Company Ltd (NNPC), Ministry of Petroleum Resources and other relevant agencies to expedite the repair/maintenance of domestic refineries and increase local refining capacity as a stop-gap measure to reduce the dependence on imported refined petroleum products.
The lawmakers also urged the Central Bank of Nigeria (CBN) to implement monetary policies that will mitigate the adverse effects of fuel price hikes on inflation, particularly with regards to essential goods and services.
The resolutions followed the adoption of a Motion on the ” Urgent Need To Suspend The Increased Cost Of Petrol And Cooking Gas In The Country And Provide A Stop-gap”, moved by Mr. Kingsley Chinda and over one hundred others.
The House also encouraged the Federal Government to explore alternative energy sources and diversify the country’s energy mix to reduce reliance on petrol
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