House of Representatives has resolved to set up an ad-hoc committee to summon the Group Managing Director of the Nigeria National Petroleum Company Limited NNPCL over the sudden increase in fuel prices across the country.
The resolution followed the adoption of a motion by a member from Imo state Mr Ikenga Chinyere, at plenary.
It also mandated the ad-hoc committee to invite the Independent Petroleum Marketers Association of Nigeria IPMAN to appear before it and respond to questions on the recent development.
Mr Ikenga Chinyer, expressed concern that Nigerians suddenly woke up to the increment of fuel prices from an average price of 550 to 617 naira per liter, resulting in the overnight increase in the cost of transportation across the country.
The lawmaker observed that food prices are also expected to increase because the price of fuel affects prices of everything in Nigeria as people were struggling to cope with effect of the earlier pronounced subsidy removal.
Presiding over the plenary session, Deputy Speaker Mr Benjamin Kalu, commended the spirit of the motion, saying the house must do something to alleviate the suffering Nigerians are going through.
The Deputy Speaker emphasized that what happened was that market forces are reacting to the subsidy removal.
COV/TSIBIRI
