The House of Representatives Committee on Petroleum Resources (Upstream) has called on President Bola Tinubu and the Nigerian National Petroleum Company Ltd. (NNPCL) to immediately reverse the recent petrol price hike from N617 to N897. The increase has led to a surge in commodity and transportation prices, affecting consumers’ purchasing power.
Committee Chairman Alhassan Ado-Doguwa urged the federal government and NNPCL to consider Nigerians’ plight and suspend the price increase. He advocated for a return to the old pump price and intensified engagement with stakeholders to address the issue.
Ado-Doguwa, who also leads the Special Committee on Crude Oil Theft and Vandalisation of Pipelines, pledged to address revenue losses from crude oil theft. He announced plans to collaborate with youths and community leaders in oil-producing areas to resolve issues stemming from frequent crude oil thefts.
The Committee is working with security agencies to secure oil pipelines and critical facilities, aiming to calm the situation and enable Nigerians to go about their daily activities with ease.
Ado-Doguwa encouraged Nigerians to support the Bola Tinubu administration’s efforts to reform the oil and gas sector, citing interventions to commence operations at Port Harcourt and Warri refineries as a step towards ending these challenges.