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The House of Representatives has resolved to investigate the rise in the cost of diesel and cooking gas with a view to cushioning the effects on Nigerians.
Following a unanimous adoption of a motion by Chike Okafor (APC-Imo) at the plenary on Tuesday.
Moving the motion, Mr Okafor said that almost all businesses and households in Nigeria depend on diesel-powered generators as an alternative source of electricity.
“The outrageous rise in the price of diesel shows that diesel which was sold between N280 and N350 per litre three weeks ago is currently being sold above N780 per litre.
“The hike in the cost of diesel is alleged to be the handiwork of unscrupulous stakeholders in the industry, and is tantamount to economic sabotage.
“The hike is causing untold hardships to Nigerians as it will result in an increase in prices of food as well as other goods and services,” he said.
Mr Okafor said if the ugly trend of the increasing price of diesel is not checked, the multiplier effect will spell doom for Nigeria’s economy.
In his ruling, speaker of the house, Femi Gbajabiamila, mandated the Committees on Petroleum Resources (Downstream and Upstream), and Gas Resources to investigate the matter and report back within six weeks.
He said that the committees should find out reasons for the unexplained astronomical increase in the price of diesel with a view to ensuring that a reasonable price is fixed to alleviate the sufferings of Nigerians.