…say price controlled by market forces

The House of Representatives on has turned down a proposed amendment to a motion seeking to suspend the recent increase in the pump price of petrol.

Members voted against the amendment, following a querry by Benjamin Kalu, Deputy Speaker, who presided over plenary and asked if it was in the place of the House to take such a position, considering that the price of petrol is controlled by the market forces.

Honourable Ugochinyere Ikenga had moved a motion calling for investigation into the increases in the price of petrol since the removal of petrol subsidy.

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The House however resolved to carry out an investigation to ascertain the veracity of the price increase.

The House likewise rejected a motion to Set up an Ad-hoc Committee to collate the views of lawmakers, Civil Society Organisations, as well as the public, and engage the government on the selection of the best palliative options to cushion the effect of fuel subsidy removal.

Moving the motion, Honourable Dennis Agbo observed that it would be best for Nigerians to determine the best palliatives for them. Agbo further expressed concern about the impact that the proposed monthly cash handout of ₦8,000 could have on a household, considering current inflationary trends.