House Of Reps Member Calls For Nigeria’s Exit From OPEC Over Petrol Price Hike

George Ibezimako Ozodinobi, a House of Representatives member for the Njikoka/Anaocha/Dunukofia Federal Constituency, has advocated for Nigeria to withdraw from the Organisation of Petroleum Exporting Countries (OPEC).

The Labour Party lawmaker Ozodinobi made the call at the House floor while supporting the motion raised during the House plenary on Wednesday by the House Minority Leader, Kingley Chinda of the Peoples Democratic Party (PDP), Rivers State.

The lawmakers had in the motion called on President Bola Tinubu’s government to reverse the recent hikes in the prices of Premium Motor Spirit, popularly known as petrol and liquified petroleum gas (LPG), commonly known as cooking gas.

The lawmaker said it was high time the Nigerian government pushed aside the international standard of selling crude oil.

It urged the government to sell crude oil to Dangote Refinery at a reduced foreign exchange rate.

According to him, President Bola Tinubu’s administration recently approved N70,000 new national minimum wage for Nigerian workers but the current increase in prices of petrol and food items have made the minimum wage meaningless to the extent that N70,000 does not last the earners three days.

Ozodinobi said, “I want to draw the attention of all of us that in the recent past, the federal government gave a minimum wage of N70,000 per month, and just a week or two ago, there was an increase of fuel price.

“I’m telling you from personal experience, my driver, I approved his transport of N3,000 transportation a day, has come up with the bill of N6,000 transportation just to come to work.

“All these things are affecting the entire state of our people. We cannot transport food from our constituencies or our constituents cannot transport their produce from the farm to markets with a much lesser cost.

“The increase of food prices in this country, somebody who is earning N70,000 per month, his N70,000 cannot last him for three days in this country, in the same government, the same policy.

“I want to thank God for the life of Aliko Dangote who has through other investors, come up with a refinery. I want us to pressurise the government, because not all countries that produce petroleum are in OPEC.”

According to him, “We need to review our OPEC policy. We mustn’t be in OPEC because the only thing that will solve this problem of petroleum increase is to use what we have to solve our problem.

“In other words, I’m advocating that the NNPCL (Nigerian National Petroleum Company Limited), the government should, as a matter of policy, sell the crude oil we produce to Dangote at a reduced foreign exchange because their hands are tied, we will have to review the policies we have with OPEC. We mustn’t be there.

“We have crude oil. Dangote must be given our crude oil at a reduced foreign exchange, not on international standard.”

SaharaReporters had reported that the House of Representatives while calling President Tinubu’s government to reverse the increased fuel and gas prices, emphasised the need for urgent interventions, such as price relief, tax reductions, or subsidies, particularly to alleviate the burden on low-income households.

 The lawmakers noted that Nigeria’s dependence on petroleum products and cooking gas as primary energy sources has made the recent price increases unbearable for ordinary Nigerians.