CNPP backs Reps, demands reversal of petrol, cooking gas prices

Irked by the hardship and poverty in the country, the Conference of Nigeria Political Parties (CNPP) has thrown its weight behind the House of Representatives’ call for the federal government to reverse the recent hike in petrol pump prices and also stabilise the cost of cooking gas in the country.

According to a statement signed by the Deputy National Publicity Secretary of CNPP, Comrade James Ezema, which was made available to journalists in Kaduna on Friday, the Conference urged President Bola Tinubu to “immediately reverse the removal of fuel subsidy in totality and end the legislative process of increasing Value Added Tax (VAT) until the Nigerian economy recovers.”

The CNPP said that the removal of fuel subsidies has “exacerbated the financial burden on ordinary Nigerians, with petrol and cooking gas prices skyrocketing in recent months,” noting that “this has increased inflation, pushing many families into deeper financial hardships and threatening economic stability and job security in the country.”

Ezema remarked that “as an oil-producing country, Nigeria has historically relied on petroleum products and cooking gas as essential sources of energy for both domestic and industrial purposes. However, the recent price hikes have created an unsustainable financial burden on citizens, particularly low-income households.”

The CNPP lamented that escalating fuel and gas prices are impacting the cost of transportation, food, essential goods, and healthcare, further increasing inflation and pushing many families into deeper financial hardships.

The CNPP further expressed concern that businesses, “particularly small and medium-sized enterprises (SMEs), are struggling to manage their operational costs due to increased fuel prices, threatening economic stability and job security.”

It then demanded that the federal government take immediate steps to reverse the pump price hike and stabilise petrol and cooking gas prices through targeted interventions.

“This includes temporary price relief measures, tax reductions, or subsidies on LPG for low-income households,” it added.

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Meanwhile, the CNPP has urged the federal government to expedite the repair and maintenance of domestic refineries and increase local refining capacity as a stop-gap measure to reduce dependence on imported refined petroleum products.

In addition, the Conference called on the Central Bank of Nigeria (CBN) to implement monetary policies that would mitigate the adverse effects of fuel price hikes on inflation, particularly with regard to essential goods and services.

It also urged the federal government to explore alternative energy sources and diversify the country’s energy mix to reduce reliance on petrol and gas, promoting renewable energy solutions that are more sustainable and affordable in the long term.

The group stressed that the federal government must prioritise the welfare and well-being of Nigerians and take concrete steps to alleviate the suffering and hunger among the masses in the country, urging the government to “go after looters and government officials in the previous administration of former President Muhammadu Buhari and recover trillions of naira stolen from the nation’s treasury under several guises.”