The House of Representatives has instructed its Gas Resources Committee to meet with the Minister of Oil Resources of the State, Timipriye Sylva, to find a solution to the rise in the price of liquefied natural gas.
Lawmakers also called on the executive to develop effective mechanisms and explore different mitigation options to cushion the effect of the persistent increase in the price of cooking with gas on ordinary citizens.
These resolutions were reached following a motion tabled by Rasheed Olalekan (APC, Osun) on Thursday during the plenary.
According to Olalekan, the price of cooking gas has risen almost 300% in recent months despite the fact that Nigeria has one of the largest gas reserves in the world.
He pointed out that gas is a basic good used by households, so the government must intervene. He noted that Nigerians are already facing several challenges and do not need more.
He said: “A kilogram of gas that was initially sold for N300 now sells within the range of N700 to N850, which has further plunged Nigerians into incalculable hardship as that basic need is becoming increasingly unaffordable.
Olalekan further noted that a prolonged rise in prices could affect Nigerians during the holiday period.
“A prolonged increase in the prices of essential items, especially during the Christmas season, could have serious social consequences, as it could worsen economic difficulties and force people to turn to crime and other vices to survive,” added Olalekan.
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PREMIUM TIMES, in a special report, detailed the impact of the rise in the price of cooking gas on Nigerians, as many have turned to firewood despite the health and environmental consequences of the practice.
The rise according to the report is affecting small businesses.
Tuesday, the NNPC The group’s managing director, Mele Kyari, announced that the government is working to increase supply, in an attempt to lower the price of gas.
The motion was adopted after Vice President Idris Wase, who chaired the session, put it to a vote.