Senate may summon Minister of State for petroleum, Dr. Ibe Kachikwu to appear before them to explain the recent hike in price of Petrol to N145 per litre .
This is as it resumes sitting after over a week break from plenary to enable Senators of the Peoples Democratic party, PDP attend to party congresses.
The Senator representing Abia North at the National Assembly, Senator Mao Ohuabunwa who made this known said, President Muhammadu Buhari needs to explain to Nigerians his intention of increasing the pump price of fuel to N145 per litre as against the original N95 per litre.
Ohuabunwa during a chat with journalists in Abuja yesterday, questioned the rationale behind the action which he also said, might warrant the senate to summon the Minister of State for Petroleum, Dr. Ibe Kachikwu to appear before it to explain the Federal Government’s action to Nigerians whom he feared are going to suffer the consequences.
Noting that the people are confused as to whether the policy is ‘a deregulation of the oil sector or something else, the lawmaker, said even though he is yet to understand what the Federal Government has done, it is certain that it is going to bring untold hardship on the common man since there are no palliatives to cushion the effect of the increase as was attempted by the previous administration through the establishment of SURE-P and others.
Ohuabunwa condemned the fact that while attempting to deregulate, the Federal Government had to put a price tag, which eventually translates to creating more problems upon existing situations that he described as ‘very excruciating,’ adding that, common sense should have told the government that no matter what they intend to achieve, market forces should be allowed to determine the price of the product, even as he described the timing as wrong, considering numerous problems that Nigerians are facing with the present administration.
“I don’t even understand what he did, whether it’s regulation or deregulation. I am an advocate of deregulation because I believe that it is important the market forces should be allowed to determine prices of products. But everything deregulation should have a human face, the functional duty and responsibility of the government is the welfare of the people so, even if you have to regulate or deregulate, you must know what time to do, when it will not bring hardship on the people”.
“If you look at what is happening, the situation is quite excruciating. Power you are not sure and several things, and if at this time you now come and increase the pump price of fuel, which is increasing hardship on the people which I believe this is not acceptable”.

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