The House of Representatives has resolved to set up an ad hoc committee to investigate the circumstances leading to the increment of pump price of Premium Motor Spirt (PMS), fondly called petrol, from N537 to N617.
The resolution was sequel to a unanimous adoption of a motion by Ugochinyere Ikeagwuonu (PDP-Imo) at plenary in Abuja on Wednesday, July 19, 2023.
Moving the motion, Ikeagwuonu said section 88 (1) and (2) of the Constitution empowers the National Assembly to conduct investigations into the activities of any authority executing or administering laws made by the National Assembly.
He said Section 32 of the 2021 Petroleum Industry Act saddles 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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The lawmaker stated: “Tuesday, July 18, 2023, petrol pump price was increased from N537 to N617 by petrol marketers, without conferring with the relevant agencies of government.
“Disturbed that in view of the current socio-economic challenges being faced by Nigerians, a hike in the price of fuel will heap great suffering and hardship on Nigerians.”
The House resolved to invite the Chief Executive Officer of the Nigeria National Petroleum Company Limited (NNPCL), Mele Kyari, to explain the hike in petrol price.
The lawmakers, however, rejected a call by Zakaria Nyampa (APC-Adamawa) to stay implementation of the new price pending the outcome of the investigation.
The Deputy Speaker, Benjamin Kalu, mandated the committee, when constituted, to report back to the House within four weeks for further legislative action.
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