Obi, Pained, Condemns Fuel Price Hike, Calls For Explanation And Reversal

ABUJA, NIGERIA – Labour Party presidential candidate and former Anambra State governor, Peter Obi, has condemned the recent fuel price increase by the Nigerian National Petroleum Corporation (NNPCL), calling it “unfortunate and insensitive” in the face of Nigeria’s economic struggles.

In a statement posted on his X account, Obi highlighted the “extremely difficult economic conditions” Nigerians are enduring, blaming the Federal Government’s “wrong policy choices.”

He criticised the lack of transparency and explanation surrounding the price hike, emphasising the detrimental consequences for the nation’s economic survival and well-being.

“This is neither how an economy’s resources should be managed nor how a nation should be governed,” Obi stated, questioning the rationale behind the price increase.

“In this new measure, there is neither sound economics nor necessary compassion.”

Obi further raised concerns about the ambiguous roles and responsibilities of the NNPCL and its regulatory bodies, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

He noted the “growing confusion” surrounding their respective mandates, particularly given that both are ostensibly under the supervision of the Federal Ministry of Petroleum Resources, with the President of Nigeria serving as the substantive Minister.

“Who, in this arrangement, is regulating who?” Obi questioned, highlighting the apparent lack of accountability within the government.

Obi directly addressed President Bola Tinubu, who is currently on a working vacation, demanding a “full explanation” for the fuel price increase.

He called for the President to offer “alternative options” and, most importantly, to reverse the price hike.

“The responsibility for providing a full explanation, offering alternative options, and most importantly, reversing the sudden price hike falls squarely on the Minister of Petroleum Resources/President of the Federal Republic of Nigeria,” Obi stated.

He expressed hope that the President will prioritise the well-being of the Nigerian people and act swiftly upon his return from vacation.

Obi condemned the decision to inflict such a “draconian measure” on the populace from the comfort of a holiday, highlighting the “unnecessary precarious conditions” under which Nigerians are living.

Obi’s statement concludes with his signature call for a “New and more compassionate Nigeria.”