In a session held on Wednesday, the House of Representatives declined a motion aimed at halting the surge in the price of Premium Motor Spirit (PMS), commonly known as petrol, and reverting it back to the previous rate of N537 per liter.
Instead, the House resolved to launch an investigation into the sudden escalation of fuel prices and the subsequent rise in transportation fares across the country.
The House said since it has already resolved to investigate the increase, it will amount to pre-empting the work of the investigative committee by ordering the suspension of the price increase.
In a motion of urgent public importance by Hon. Ikenga Ugochinyere, the House asked the group Managing Director of the Nigeria National Petroleum Company Limited, Mele Kyari and oil marketers to appear before an ad hoc committee to explain the increase.
The ad hoc committee is also find ways ensuring effective distribution of palliatives to Nigerians to cushion the effect of subsidy removal.
