Peter Obi, the 2023 Labour Party presidential candidate, has urged President Tinubu to reverse the recent fuel pump price increase by Nigerian National Petroleum Company Limited.
Obi described the hike as both “insensitive and unfortunate,” warning that it will negatively impact Nigeria’s economic stability.
In a statement shared on his official X account (formerly Twitter) on Saturday, Obi expressed concerns over the government’s policy direction and the hardship being experienced by Nigerians.
He lamented that the decision to raise the price of Premium Motor Spirit (PMS) without explanation adds further strain to citizens already struggling under tough economic conditions.
“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,” Obi wrote.
The former Anambra State governor argued that the move reflects poor economic management and a lack of compassion.
He criticized the conflicting roles within the petroleum sector, questioning the responsibilities of regulatory bodies like the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
“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,” Obi added.
He further highlighted that the President, who also serves as the Minister of Petroleum Resources, should take responsibility for reversing the hike and addressing the challenges facing Nigerians.
Obi urged Tinubu to act swiftly before concluding his working vacation, noting that governance should prioritize the welfare of the people.
“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,” Obi stated.