During a session in the House of Representatives on Wednesday, Labour Party lawmaker George Ibezimako Ozodinobi urged Nigeria to exit the Organisation of Petroleum Exporting Countries (OPEC).
He made this statement while backing a motion proposed by the House Minority Leader, Kingley Chinda of the Peoples Democratic Party (PDP) from Rivers State.
Ozodinobi, who represents the Njikoka/Anaocha/Dunukofia Federal Constituency, supported the motion calling on President Bola Tinubu’s administration to address the recent increases in prices of Premium Motor Spirit (petrol) and liquefied petroleum gas (LPG), commonly referred to as cooking gas.
He asserted that it was crucial for the Nigerian government to disregard the international pricing standards for crude oil. Ozodinobi recommended that the government sell crude oil to Dangote Refinery at a lower foreign exchange rate.
He pointed out that although President Bola Tinubu’s administration recently approved a new national minimum wage of N70,000 for workers, the steep rises in fuel and food prices have rendered this wage nearly useless, often lasting no more than three days.
Ozodinobi stated, “Recently, the federal government set a minimum wage of N70,000 per month, but shortly after, there was a hike in fuel prices. From my experience, my driver’s transport cost, which I initially approved at N3,000 per day, has now risen to N6,000 just to come to work.”
He continued, “These increases are impacting our entire population. Our constituents struggle to transport food from farms to markets at reasonable costs. With food prices escalating, someone earning N70,000 per month finds it barely lasts three days under these policies.”
Ozodinobi expressed appreciation for Aliko Dangote and other investors for establishing a refinery, emphasizing the need for the government to be pressured into reassessing its position in OPEC. “Not all oil-producing nations are part of OPEC,” he remarked.
He added, “It’s essential that we review our OPEC involvement. The solution to our petroleum price crisis lies in leveraging our resources to address our challenges.”
According to him, the Nigerian National Petroleum Company Limited (NNPCL) should adopt a policy of selling crude oil to Dangote at a favorable foreign exchange rate, rather than adhering to international standards.
SaharaReporters noted that the House of Representatives has urged President Tinubu’s government to reconsider the increased prices of fuel and gas while highlighting the need for urgent measures, such as price relief, tax cuts, or subsidies, particularly to support low-income households.
The lawmakers stressed that Nigeria’s reliance on petroleum products and cooking gas as primary energy sources has made the recent price hikes unbearable for the average Nigerian.
Source: SaharaReporters
