The House of Representatives has rejected a motion to stop an increase in the price of Premium Motor Spirit and revert to the old price of N537 per litre.
The House, on Wednesday, resolved to investigate the sudden increase in the price of fuel and the resultant increase in transport fares across the country and asked its committee to propose palliative measures to be taken to ameliorate the sufferings of Nigerians.
The House said since it had resolved to investigate the increase, it would amount to pre-empting the work of the investigative committee by ordering the suspension of the price increase.
In a motion of urgent public importance by Hon. Ikenga Ugochinyere, the House asked the Group Managing Director of the Nigeria National Petroleum Company Limited, Mele Kyari, and oil marketers to appear before an ad hoc committee to explain the increase.
The ad hoc committee is also said to be finding ways to ensure the effective distribution of palliatives to Nigerians to cushion the effect of subsidy removal.
Ugochinyere said Sections 88 (1) and (2) of the Constitution of the Federal Republic of Nigeria, 1999 (As Amended) empowered the National Assembly to conduct investigations into the activities of any authority executing or administering laws made by the National Assembly.
He also said Section 32 of the Petroleum Industry Act, 2021 saddled the Petroleum Midstream and Downstream Regulatory Authority with the task of regulating and monitoring technical and commercial midstream and downstream petroleum operations in Nigeria.
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