The House of Representatives has resolved to set up an ad-hoc Committee to investigate the circumstances leading to the increment of the pump price of petrol by the Nigerian National Petroleum Corporation Limited (NNPCL) and the Marketers.
The resolution of the Green Chamber to probe the fuel hike followed the adoption of a motion titled, ‘urgent need to investigate the arbitrary increase of petrol pump price from N537 to N617 by petrol marketers and the NNPCL, Hon. Ikeagwuonu Ugochinyere.
Moving the motion as the plenary on Wednesday, the lawmaker said Section 88 (1) and (2) of the Constitution empowers the National Assembly to conduct investigations into the activities of any authority executing or administering laws made by the National Assembly.
Ugochinyere added that Section 32 of the Petroleum Industry Act, 2021 saddles the Petroleum Midstream and Downstream Regulatory Authority with the task of regulating and monitoring technical and commercial midstream and downstream petroleum operations in Nigeria.
He said on Tuesday, petrol pump price was increased from N537 to N617 by petroleum marketers, without conferring with the relevant agencies of government.
Ugochinyere expressed worry that in view of the current socio-economic challenges being faced by Nigerians, a hike in the price of fuel will heap great suffering and hardship on Nigerians.
To this end, the House resolved to, “Set up an Ad-hoc Committee to investigate the circumstances leading to the increment of the Petrol Pump Price by the Nigerian National Petroleum Corporation Limited (NNPCL) and the Marketers and propose Palliative measures to be taken to ameliorate the sufferings of Nigerians and report back to the House within four weeks for further legislative action.”