The former Presidential candidate of the Labour Party (LP), Peter Obi, has condemned the recent increase in fuel price, calling on the Federal Government to reverse the sudden petrol price hike.
LoadedMore News reports that the former Anambra State Governor stated this in a post on his X handle on Saturday morning.
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| Peter Obi |
Nigerian National Petroleum Company Limited (NNPCL) announced a 14.8% hike in the price of petrol raising it to ₦1,030 per litre from ₦897.
This marks the second petrol price increase within the past month, following a previous rise in September when the price surged from ₦615 to ₦897 per litre.
Reacting, Peter Obi described the latest increase as unfortunate and insensitive.
He called on President Bola Tinubu, who doubles as the Minister of Petroleum, to provide full explanation, offer alternative options, and most importantly, reverse the sudden price hike.
Peter 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.
“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?
“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.
“We hope and pray that he acts in the best interest of the majority of Nigerians, who are living under unnecessarily precarious conditions, and that he does so before his return from 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!”