Control Petrol and Cooking Gas Prices to Prevent Rising Crime Rates – Reps Warn FG

On October 16, 2024, the House of Representatives urged the Federal Government to take immediate action to control the rising prices of petrol and cooking gas, citing their significant impact on the everyday lives of Nigerians. During a plenary session in Abuja, Minority Leader Rep. Kingsley Chinda (PDP-Rivers) highlighted the financial strain these increases have placed on ordinary citizens, which could lead to heightened crime rates.

Key Points from the Motion:

• Escalating Prices: Chinda noted that the surge in petrol and cooking gas prices has created an unsustainable burden, particularly affecting low-income households. He pointed out that the removal of fuel subsidies and global oil price fluctuations, alongside the depreciation of the naira, have worsened the situation.
• Economic Impact: The lawmaker emphasized that rising costs have affected transportation, food prices, and healthcare, contributing to inflation and deeper financial hardships for many families. Small and medium enterprises are also struggling with increased operational costs, threatening economic stability and job security.
• Urgent Measures Needed: Chinda warned that if no action is taken, Nigeria risks falling into a more profound economic crisis, which could lead to increased crime and mortality rates. He urged the government to explore subsidies and price control measures to alleviate the burden on citizens.

Recommendations:

• The House called for the Nigerian National Petroleum Corporation Limited (NNPCL) and the Ministry of Petroleum Resources to expedite repairs and maintenance of domestic refineries to reduce dependence on imported petroleum products.
• They also urged the Central Bank of Nigeria to implement monetary policies that mitigate the inflationary effects of rising petrol prices on essential goods and services.
• Additionally, state governments were encouraged to adopt tax relief measures on transportation and goods impacted by high petrol costs.

In conclusion, Speaker Tajudeen Abbas directed the Committees on Petroleum Downstream and Legislative Compliance to ensure these recommendations are addressed, mandating a report back to the House within two weeks.