House to summon NNPCL’s MD on new fuel price

Forum 9 months ago

House to summon NNPCL’s MD on new fuel price

The House of Representatives has resolved to invite the Group Managing Director of the Nigeria National Petroleum Company Limited, Mele Kyari to give reasons for the recent hike in the cost of fuel in the country.

This is just as the House kicked against the call for the suspension of the new price regime by many Nigerians across the country

This followed the adoption of a motion of urgent national importance on “The issue of incessant increment in the price of Premium Motor Spirit by the NNPCL moved by the lawmaker representing Ideato North/Ideato South Federal Constituency of Imo State, Ikenga Ugochinyere.

“The price of fuel affects the price of everything in the market,” the motion read in part.

Ugochinyere urged the House to unravel the reasons behind the recent increment even as his colleagues who contributed to the debate agreed that oil price is often determined by the dictates of market forces.

The Deputy Speaker, Benjamin Kalu who presided over plenary on Wednesday urged the committee to recommend the best form of palliative that can best cushion the effect of the hardship brought about by the increment in the price of fuel.