House of Reps Urges FG, NNPCL to Restore Previous Fuel Prices

The House of Representatives Committee on Petroleum Resources (Upstream) has called for a rollback of recent fuel price hikes, urging both the Federal Government and the Nigerian National Petroleum Company Ltd. (NNPCL) to revert to the previous rates.

Committee Chairman Rep. Alhassan Ado-Doguwa condemned the price increase as unacceptable, criticizing private companies for exploiting system gaps to profit at the expense of Nigerians.

Doguwa stated, “We urge the Federal Government and NNPCL to consider the hardship faced by Nigerians and suspend this recent price hike.”

He emphasized that Nigerians are currently facing significant challenges and advocated for a return to the old pump price while engaging with stakeholders to resolve the issue.

Additionally, Doguwa, who chairs the Special Committee on Crude Oil Theft and Vandalization of Pipelines, vowed to address the revenue losses from crude theft by working with youths and community leaders in oil-producing areas. He stressed the need for collaboration with security agencies to protect oil pipelines and critical facilities.

Doguwa also encouraged Nigerians to support the President Bola Tinubu-led administration’s efforts to reform the oil and gas sector, highlighting the potential benefits of the Petroleum Industry Act and refinery revivals in Port Harcourt and Warri.

The recent fuel price increase, directed by NNPC Ltd., has raised pump prices from an average of N617 to N897, leading to higher costs for goods and transportation.