Peter Obi, the former presidential candidate of the Labour Party, has condemned the recent increase in fuel pump prices by the Nigerian National Petroleum Company Limited (NNPCL).
Obi described the hike as “unfortunate and insensitive” given the already difficult economic conditions facing Nigerians.
The NNPCL raised fuel prices across the country, with prices ranging from N855 to N1075 per liter depending on the region. Obi criticized the government for implementing this measure without providing any explanation or offering alternative options.
The former Anambra State Governor called on President Bola Tinubu, who also serves as the Minister of Petroleum, to reverse the price hike. Obi emphasized that such a draconian measure should not be imposed on the populace without due consideration for their welfare.
Obi argued that the government’s economic policies have contributed to the current hardships faced by Nigerians. He stressed that the NNPCL’s decision to raise fuel prices without explanation is neither a responsible nor a fair approach to governance.
Peter Obi wrote on X, formerly Twitter: “As Nigerians continue to groan under extremely difficult economic conditions, largely caused by the Federal Government’s wrong policy choices, the NNPCL has once again raised the price of fuel (PMS) without providing any explanation.
“This is both unfortunate and insensitive, considering the wide-ranging negative consequences for our economic survival and well-being.
“This is neither how an economy’s resources should be managed nor how a nation should be governed. In this new measure, there is neither sound economics nor necessary compassion.
“We are told that the NNPCL is now a limited liability company, regulated by agencies such as the NUPRC and NMDPRA, yet there seems to be growing confusion about the roles and responsibilities of the NNPCL and these regulating bodies.
“Interestingly, both the NNPCL and the regulatory agencies are supposed to be under the supervision of the Federal Ministry of Petroleum Resources, with the President of the Federal Republic of Nigeria serving as the substantive Minister. Who, in this arrangement, is regulating who?
“With the unprecedented but avoidable hardship that Nigerians are enduring, the responsibility for providing a full explanation, offering alternative options, and most importantly, reversing the sudden price hike falls squarely on the Honorable Minister of Petroleum Resources/President of the Federal Republic of Nigeria.
“We hope and pray that he acts in the best interest of the majority of Nigerians, who are living under unnecessarily precarious conditions, and that he does so before his return from his working vacation.
“To casually inflict such a draconian measure on the populace from the comfort of an annual vacation amounts to taking the people’s welfare lightly and for granted.”
