The Peoples Democratic Party (PDP) caucus in the House of RepresentativeshascalledonPresident Muhammadu Buhari to, as a matter of urgency, reverse the pump price of fuel and electricity tariff to meet the yearnings of Nigerians and the reality of the moment.
The caucus chaired by Rep. Kingsley Chinda (PDP Rivers), came out with the resolution at its 18th virtual meeting, where it reviewed issues of national interest, particularly, the recent cost increases by the Federal Government.
They included the increase in pump price of fuel, electricity, stamp duties, telecommunication charges and the implementation of 7.5 per cent Value Added Tax (VAT).
The caucus noted that; “TheCOVID-19pandemic has no doubt inflicted great hardship globally and have seen most economies fluttering.”
It said that; “Most, if not all responsive governments, have devised innovative, people- oriented interventions and opening new frontiers to reducing tax burdens on their citizens to stimulate their economies and cushion the unfortunate effect of the pandemic.
“Conversely, the Nigerian Federal Government led by President Muhammadu Buhari has found this inauspicious time to implement what can only be described as strangle-hold economic policies on the lives of helpless Nigerian citizens.
“More disturbing is the fact that the review in electricity tariff and fuel prices is not commensurate with increase in salary or income of the people.”
On the issue of increase in pump price, it said that the increase inflicted on Nigerians willbethethirdhikesincethe advent of this administration. “From an inherited pump price of N85 per litre, they have systematically increased it to an exorbitant, strangulating cost of N162 per litre.
All these have been achieved without consultation or engagement with the Nigerian people, at whose pleasure he serves.”
Chinda further said that; “Recall that in 2015, when this government took over the mantle of leadership, the cost of crude was $93.17 to $48.66; pump price of fuel in Nigeria was N85 per litre and about N500 billion was said to be paid as subsidy annually