The 2023 Labour Party (LP) presidential candidate, Peter Obi, has called for the immediate reversal of the recent hike in petrol prices.
Earlier, The New Daily Prime reported that fuel prices surged last week, with some stations selling a litre for as high as N1,200.
In a statement on his X page on Saturday, Obi expressed deep concern, stating that Nigerians are grappling with severe economic hardship, which he attributed to misguided policy decisions by the federal government.
Obi criticised the Nigerian National Petroleum Company Limited (NNPCL) under President Bola Tinubu’s administration for increasing petrol prices without offering any explanation.
The former governor of Anambra State condemned the move as ‘unfortunate and insensitive’, warning of its far-reaching negative impact on the nation’s economic stability and the well-being of its citizens.
The statement partly read: “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?”
He emphasised that the responsibility to fully explain, offer alternative solutions, and reverse the abrupt price hike—which has imposed significant hardship on Nigerians—rests squarely on Tinubu.
Furthermore, Obi voiced optimism that Tinubu would prioritise the welfare of Nigerians, who are enduring unnecessary hardships, and take decisive action before concluding 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. A New and more compassionate Nigeria is indeed Possible.”
