The Nigeria House of Representatives on Wednesday formally declare their support on the Federal Government decision to remove the subsidy on Premium Motor Spirit, better known as petrol.
As a result of the decision, a litre of petrol now sells for N145, up from N86.50k.
The government claimed that what it did was price increase and not the removal of subsidy or deregulation of the downstream sector of the petroleum industry.
On Wednesday, the House, which was presided over by the Speaker, Mr. Yakubu Dogara, backed the price hike.
The House had intervened in a bid to resolve the dispute by summoning the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, to appear before it on Monday.
After Kachikwu’s appearance, where he said the government would not reverse the new price regime, the House also invited labour leaders to hear their own side of the story on Tuesday.
An adhoc committee chaired by the Chief Whip of the House, Mr. Alhassan Ado-Doguwa, was mandated to interface with labour leaders.
The committee presented an interim report to the House on Wednesday, which was adopted wholesale by lawmakers.
In adopting the report, the House said it was in support of the price hike.
It added that it “overwhelmingly expressed solidarity towards deregulation of the downstream sector of the oil industry in the greater interest of the Nigerian economy and posterity.”
While supporting the price regime, the House urged labour to continue to “show understanding of the situation, while engaging in dialogue in the interest of its teeming membership and Nigeria.”