On Wednesday, the House of Representatives declined to pass an amendment to a motion aimed at suspending the recent increase in petrol pump prices. Deputy Speaker Benjamin Kalu, who presided over the session, questioned the House’s authority to take such a stance, given that pump prices are regulated by market forces.
The initial motion, brought forth by Honourable Ugochinyere Ikenga, called for an investigation into the surge in petrol prices following the removal of petrol subsidies. However, the House agreed to proceed with an investigation to verify the accuracy of these price increases.
Another proposal to establish an Ad-hoc Committee for gathering input from lawmakers, Civil Society Organizations, and the public, and engaging with the government to identify suitable palliative measures to alleviate the impact of fuel subsidy removal in Nigeria, was also rejected by the House.
Amid uncertainties among Nigerians and the House members themselves, concerns were raised about the utilization of the funds approved for the president. Honourable Dennis Agbo, who introduced the motion, emphasized the importance of allowing Nigerians to have a say in determining the most appropriate palliative measures.
He also expressed worry about the inadequacy of the proposed ₦8,000 monthly cash handout for a selected household of five members, considering the current potential inflationary pressure.