Peter Obi, the Labour Party’s presidential candidate for 2023, urged President Bola Tinubu to roll back the recent fuel price increase. He criticized the hike by the Nigerian National Petroleum Company Limited (NNPCL) as insensitive and regrettable.
In a statement on X, Obi expressed concern that this sudden price rise would negatively impact Nigeria’s economic health.
He wrote, “As Nigerians struggle under harsh economic conditions largely due to the Federal Government’s misguided policies, the NNPCL has again raised fuel prices (PMS) without any justification.
“This is unfortunate and shows a lack of sensitivity, especially considering its broad negative effects on our economic well-being.
“This approach does not reflect sound economic management or responsible governance. There’s no evidence of economic wisdom or compassion in this decision.
“Although the NNPCL is now a limited liability company regulated by agencies like the NUPRC and NMDPRA, confusion persists about the responsibilities of the NNPCL and these regulatory bodies.
“Both the NNPCL and the regulatory agencies are supposed to be overseen by the Federal Ministry of Petroleum Resources, with the President acting as the Minister. Who is truly in charge in this framework?
“Given the extraordinary hardships facing Nigerians, it is imperative for the Honorable Minister of Petroleum Resources/President to clarify the situation, suggest alternative measures, and, most crucially, reverse the abrupt price increase.
“We hope he prioritizes the needs of the many Nigerians living in dire conditions before he returns from his working vacation.
“To impose such a harsh policy while enjoying an annual leave shows a lack of regard for the public’s welfare. A new, more compassionate Nigeria is indeed achievable! -PO”