In a bold statement on Saturday, Peter Obi, the Labour Party’s 2023 presidential candidate, urged President Bola Tinubu to reverse the recent hike in fuel prices imposed by the Nigerian National Petroleum Company Limited (NNPCL). Obi characterized the increase as both “insensitive and unfortunate,” highlighting its detrimental impact on the nation’s economic stability.
Obi took to social media platform X to express his concerns, stating that the sudden rise in pump prices would severely affect Nigeria’s economic survival. He emphasized, “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 without providing any explanation.”
The former governor of Anambra noted the troubling nature of this price hike, calling it “both unfortunate and insensitive.” He pointed out the extensive negative ramifications it could have on the well-being of Nigerians, saying, “This is neither how an economy’s resources should be managed nor how a nation should be governed.”
Obi also questioned the regulatory framework surrounding the NNPCL, mentioning, “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.” His comments reflect a deeper concern regarding the clarity and efficacy of the oversight of the fuel sector.
He further criticized the apparent disconnect between the NNPCL and the regulatory agencies, which are meant to be supervised by the Federal Ministry of Petroleum Resources. “Who, in this arrangement, is regulating who?” he asked, expressing frustration over the lack of accountability in the current system.
Obi stressed that the burden of providing clarity and alternative options lies with the President, who is also the Minister of Petroleum Resources. He remarked, “With the unprecedented but avoidable hardship that Nigerians are enduring, the responsibility for providing a full explanation… falls squarely on the Honorable Minister of Petroleum Resources/President of the Federal Republic of Nigeria.”
His statement concluded with a plea for compassion from the President. Obi urged Tinubu to act in the best interest of the citizens suffering under harsh economic conditions, saying, “We hope and pray that he acts… before his return from his working vacation.”
Critically, Obi highlighted the lack of sensitivity in the government’s approach to the situation, asserting, “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.” He underscored the need for a more empathetic governance, affirming, “A New and more compassionate Nigeria is indeed possible!”
