The Minority Caucus of the House of Representatives has strongly urged the Federal Government to reverse the recent petrol price increase. According to the caucus, the hike in the cost of petrol will further deepen the struggles of ordinary Nigerians, who are already facing economic hardship. They argue that this move will only worsen the suffering of the masses by making basic needs more expensive and harder to afford.
In a statement released on Thursday, the Minority Leader, Kingsley Chinda, expressed concern over the decision to increase the price of petrol without proper consultation. He pointed out that such a significant decision should be handled with transparency and fairness, especially when it directly affects the daily lives of citizens. According to Chinda, the principles of accountability and openness were disregarded, as the National Assembly, which is supposed to represent the people’s interests, was left out of the conversation.
Chinda’s statement, titled “Reverse Petrol Prices Now,” called on the government to urgently address the deepening link between the country’s economic challenges and the social unrest it is causing. He highlighted the urgency of taking action to avoid a further breakdown in societal stability. According to the Minority Caucus, ignoring the economic realities Nigerians are facing and pushing forward with policies like increased petrol prices could have disastrous consequences, including widespread protests and even violence.
The statement further elaborated on the economic conditions currently affecting the country. Inflation is on the rise, unemployment levels are climbing, and the Naira is rapidly losing value. In this context, increasing the price of petrol will only intensify the hardships faced by the average Nigerian. The rise in petrol prices will have a ripple effect, making transportation, food, and other essential goods more expensive. This could potentially push millions of Nigerians, already on the edge of poverty, further into economic despair.
The Minority Caucus expressed deep concern that the decision to raise petrol prices appears to have been made in isolation, without taking into account the perspectives of key stakeholders, including the National Assembly and civil society. The caucus emphasized that such a decision should have been made with more consultation and dialogue, given its wide-reaching impact on the population. The current state of the economy is already fragile, and any additional financial burden placed on the people could further destabilize the country.
The statement also touched on the social implications of this economic strain. With many Nigerians feeling increasingly frustrated and helpless due to unemployment, inflation, and now the rising cost of petrol, there is a real risk of heightened social unrest. The Minority Caucus noted that people have already started to express their anger through protests, demanding relief from the government. If the government fails to take swift action, these protests could escalate into wider social and political instability.
Chinda and the Minority Caucus warned the government to take lessons from past events, such as the national protests against bad governance, which were fueled by economic suffering. They cautioned that if the government continues to ignore the plight of its citizens, the unrest could spiral out of control. They also pointed out that jobless youths, frustrated by their dire circumstances, could take to the streets, leading to chaos and violence.
In light of these concerns, the Minority Caucus called on President Tinubu’s administration to immediately reconsider the recent petrol price hike. They urged the government to find alternative solutions to stabilize the economy without adding more burdens on the already struggling population. According to them, the focus should be on policies that provide relief and support for the people, not ones that make their lives even harder.
The Minority Caucus emphasized that reversing the petrol price hike is not just about easing financial pressure on Nigerians, but also about preventing social unrest and maintaining national stability. They appealed to the Federal Government to intervene quickly and find more sustainable ways to manage the economy in a manner that protects the interests of all citizens, particularly the most vulnerable.