Peter Obi, the former presidential candidate of the Labour Party (LP) in the 2023 general elections, has criticized the recent hike in fuel prices under President Bola Tinubu’s administration, calling it “unfortunate and insensitive” given the serious economic implications for Nigerians.
Obi’s reaction comes after SaharaReporters detailed the increase in fuel prices by the Nigerian National Petroleum Company Limited (NNPCL), which saw prices rise to N1030 per litre in Abuja, N998 in Lagos, N1,070 in the North-East, N1,025 in other South-West states, N1,045 in the South-East, and N1,075 in the South-South.
Reacting to the development in a post on X (formerly Twitter) on Saturday, the former Governor of Anambra State condemned the decision. He described it as an oppressive move imposed on Nigerians while the President was on vacation, showing disregard for the people’s welfare. Obi urged President Tinubu, who also serves as the Minister of Petroleum, to clarify the reasons behind the sudden hike, provide alternative solutions, and most importantly, reverse the price increase.
Obi further expressed concern over the manner in which economic resources are being handled, noting that such policies only deepen the hardships faced by the public. “As Nigerians continue to suffer under extremely challenging economic conditions, largely due to poor policy choices by the Federal Government, the NNPCL has again raised the price of petrol (PMS) without offering any justification,” Obi stated. He criticized the move, highlighting its far-reaching negative effects on both the economy and citizens’ well-being.
He continued, “This is not the right approach to managing a country’s resources, nor is it how a nation should be governed. The decision reflects neither sound economic principles nor the necessary compassion for the people.” Obi questioned the roles and responsibilities of the NNPCL and regulatory bodies like the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), noting that there appears to be confusion regarding their oversight functions.
Obi pointed out that both the NNPCL and the regulatory bodies are supposed to fall under the supervision of the Federal Ministry of Petroleum Resources, with the President acting as the Minister. He questioned the dynamics of this arrangement, asking, “Who, in this setup, is actually regulating whom?”
In light of the severe but avoidable hardships Nigerians are enduring, Obi emphasized that the onus is on the Minister of Petroleum, who is also the President, to provide a comprehensive explanation, offer viable alternatives, and reverse the price increase. He stressed that Nigerians deserve better, urging the President to take swift action before his return from his working vacation.
Obi concluded by saying, “Inflicting such a harsh measure on the people while on vacation amounts to disregarding their welfare and taking them for granted.” He called for the government to act in the best interest of the majority, who are living under increasingly difficult conditions, and to prioritize their well-being over political convenience.