Impact of Fuel Price Hike on Nigerians
The House of Representatives in Nigeria has demanded the immediate reversal of the recent fuel price hike, which saw petrol prices rise significantly across the country.
Lawmakers argued that the increase, along with the rising cost of cooking gas, is placing an unsustainable financial burden on Nigerians.
The motion, spearheaded by Deputy Minority Leader Aliyu Madaki, emphasized that the removal of fuel subsidies, global oil price volatility, and the depreciation of the naira have worsened the situation.
They warned that the escalating fuel prices are driving inflation, impacting transportation, food, and other essential services, which could lead to greater social unrest and economic instability.
The lawmakers also urged the government to boost local refining capacity and repair domestic refineries to reduce reliance on imported fuel.