The 2023 Labour Party presidential candidate, Peter Obi, has called on President Bola Tinubu to immediately reverse the recent increase in fuel pump prices. Obi described the price hike by the Nigerian National Petroleum Company Limited (NNPCL) as “insensitive” and warned of its negative impact on Nigeria’s economy.
In a post shared on X (formerly Twitter), Obi expressed concern over the economic hardship that Nigerians are facing, criticizing the Federal Government’s policy decisions. He condemned the lack of explanation for the sudden fuel price hike, which he said would further strain the nation’s economic survival.
Obi wrote, “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.”
He questioned the regulatory structure of the NNPCL, stating that while the company is now a limited liability entity, confusion remains about its oversight by regulatory agencies, including the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
Obi highlighted that the President, who also serves as the Minister of Petroleum Resources, should take responsibility for the situation, urging him to provide a full explanation and reverse the price hike.
“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,” Obi added.
He concluded by calling for compassionate governance, emphasizing that Nigerians are suffering unnecessarily under these measures, and urged President Tinubu to act in the best interest of the people before his return from his working vacation.
