The Senate President, Godswill Akpabio, has advised Nigerians to do away with some of their vehicles over skyrocketing fuel prices, gave the assurance that the lawmakers would step in only if needed.
Akpabio, who spoke while addressing journalists after the inauguration of a remodelled press centre in the National Assembly complex, explained that the nation’s oil and gas sector had been fully deregulated hence market forces would henceforth determine the price of fuel.
He urged Nigerians to embark on belt tightening measures pending when plans being put in place to increase the supply of the products across the country materialise.
He said: “On the recent increase in pump price of petroleum, I haven’t actually assessed what is happening in terms of pump price increase, but it’s not pump price increase, it’s deregulation.
“If you are taking away the consumer subsidy and then you want people to pay for the actual price of what we consume, it means if you have five cars you will now use one or two.
“It simply means that you are going to stop the idea of subsidy in order to make sure that the monies are used for other things. So I don’t expect any increase in pump price.
“I will expect the market forces to determine prices. I would expect that now that the NNPC is no longer going to bring petroleum products into the country, it means those who have the capacity will bring it and the more the products are available, the cheaper the price.
“So at the beginning, it may seem to be an increase in pump price, but I believe strongly that with the production from Dangote and other refineries when they become functional and the fact that it is now open to all to bring in products into the country, I can assure you that we may not even see lower pump prices.
“So please let’s not dwell on the increase in pump price. We will assess it and if there is need for us to intervene we will intervene.”
Akpabio further assured Nigerians that the Senate would ensure their comfort in the best way possible.
“There is no point offering services to Nigeria if we are not prepared to improve on the lot of Nigerians. The 10th Senate is very prepared to change the paradigm and ensure that the future of Nigeria is better than what it is today.
“I pledge before you that working collectively, we will make legislations and the right motions and intervene with the intention to build a better future for all Nigerian children, those born and yet unborn.
“When I say that brighter days are ahead, it simply means that all the wrongs that kept the country where it is will be corrected,” the Chairman of the National Assembly stated.