The Nigerian Senate has pledged to undertake rigorous oversight measures to prevent any potential increase in the prices of petroleum products and electricity tariffs, despite the challenges posed by the depreciation of the naira against major currencies.
Senator Yemi Adaramodu, Chairman of the Senate Committee on Media and Public Affairs, reassured the public during an interview in Abuja that the Senate was actively engaged in oversight activities to address concerns over possible hikes. He emphasized the Senate’s commitment to ensuring that Nigerians do not face undue financial burdens in accessing essential services like electricity and fuel.
The assurance comes in response to mounting apprehensions fueled by factors such as the high landing cost of petroleum products and the significant indebtedness of the federal government to electricity generating firms.
Adaramodu highlighted ongoing committee probes into the activities of entities like the Nigerian National Petroleum Corporation Limited (NNPC) and the broader oil sector, indicating that the findings would inform the Senate’s approach to addressing the situation.
Regarding the power sector, Adaramodu underscored the Senate’s role in scrutinizing ministerial statements and engaging with relevant stakeholders to formulate informed decisions. He emphasized the importance of involving critical stakeholders, including Nigerians, in the decision-making process to ensure that their concerns are adequately addressed.
Furthermore, Adaramodu assured that the Senate would intervene appropriately in addressing the planned strike by the Nigeria Labour Congress (NLC). He emphasized the importance of swiftly adhering to agreements reached between the government and labor unions to promote social stability and economic well-being for all Nigerians.
In conclusion, Adaramodu reiterated the Senate’s unwavering commitment to safeguarding the interests of the Nigerian populace and pledged to take decisive actions to prevent any adverse impacts on the citizens’ standard of living.
