Peter Obi, the presidential candidate for the Labour Party in 2023, has called on President Bola Tinubu to take immediate action to reverse the Continous increase in fuel prices.
Obi criticized the Nigerian National Petroleum Company Limited (NNPCL) for its sudden price hike, labeling it both insensitive and unfortunate.
In a message posted on X, he expressed concern that this increase would have detrimental effects on Nigeria’s economic stability.
He stated, “As Nigerians grapple with harsh economic conditions, primarily stemming from misguided policy decisions made by the Federal Government, the NNPCL has again raised fuel prices (PMS) without any justification.”
Calling the situation “unfortunate and insensitive,” he noted the far-reaching negative implications for the nation’s economic survival and the well-being of its citizens.
“This is not the way to manage a country’s resources or govern effectively. This new development lacks sound economic reasoning and essential compassion,” he added.
Obi pointed out that while the NNPCL is now operating as a limited liability company under the oversight of regulatory bodies like the NUPRC and NMDPRA, there appears to be confusion regarding the roles and responsibilities of these entities.
He remarked, “It’s intriguing that both the NNPCL and these regulatory agencies fall under the supervision of the Federal Ministry of Petroleum Resources, with the President acting as the substantive Minister. In this framework, who is actually overseeing whom?”
With the unprecedented hardships faced by Nigerians, Obi emphasized that the onus of providing a comprehensive explanation, exploring alternative solutions, and crucially reversing the price hike lies with the Minister of Petroleum Resources, who is also the President of Nigeria.
He expressed hope that the President would prioritize the welfare of the majority, who are enduring unnecessary hardships, and that action would be taken before his return from a working vacation.
“To impose such a severe measure on the population while enjoying an annual vacation shows a troubling disregard for the people’s welfare. A new and more compassionate Nigeria is indeed achievable!” -PO
