The House of Representatives on Wednesday rejected a motion to stop the increase in the price of Premium Motor Spirit and revert to the old price of N537 per litre.
According to The Nation, the House resolved to investigate the sudden increase in the price of premium motor spirit and the resultant increase in transport fares across the country.
In a motion of urgent public importance by Hon. Ikenga Ugochinyere, the House asked the Group Managing Director of the Nigeria National Petroleum Company Limited, Mele Kyari and oil marketers to appear before an ad hoc committee to explain the increase.
The ad hoc committee is also to find ways to ensure the effective distribution of palliatives to Nigerians to cushion the effect of subsidy removal.
The House said since it has already resolved to investigate the increase, it will amount to pre-empting the work of the investigative committee by ordering the suspension of the price increase.