Obi Demands Immediate Reversal Of Fuel Price Hike, Calls It Insensitive

Obi Demands Immediate Reversal Of Fuel Price Hike, Calls It InsensitiveFormer Labour Party presidential candidate Peter Obi has criticized the recent fuel price increase, urging the Federal Government to reverse the abrupt hike in petrol prices. In a post on his X handle on Saturday morning, Obi expressed his concerns following the announcement from the Nigerian National Petroleum Company Limited (NNPCL) of a 14.8% increase, raising the price from ₦897 to ₦1,030 per litre.

This marks the second fuel price increase in just a month, following a rise in September when prices jumped from ₦615 to ₦897 per litre.

Obi labeled the latest increase as “unfortunate” and “insensitive,” calling on President Bola Tinubu, who also serves as Minister of Petroleum, to provide a thorough explanation and alternative options, and to most importantly, reverse the sudden price hike.

He stated, “As Nigerians continue to suffer under extremely difficult economic conditions, largely caused by the Federal Government’s misguided policy choices, the NNPCL has again raised the price of fuel (PMS) without any explanation. This is both unfortunate and insensitive, given the far-reaching negative effects on our economic survival and well-being.”

Obi emphasized that such actions reflect poorly on economic management and governance, arguing that there is “neither sound economics nor necessary compassion” in this decision. He questioned the roles of the NNPCL and regulatory agencies like the NUPRC and NMDPRA, given that both are supposed to operate under the supervision of the Federal Ministry of Petroleum Resources, with the President acting as the substantive Minister.

“Who, in this arrangement, is regulating whom?” he asked. He pointed out that the responsibility for providing a full explanation, offering alternatives, and reversing the price hike rests with the Honorable Minister of Petroleum Resources/President of Nigeria.

Obi expressed hope that the President would act in the best interest of the majority of Nigerians who are living under precarious conditions, ideally before his return from vacation. He criticized the decision to impose such a severe measure while the President is on vacation, suggesting it indicates a disregard for the people’s welfare.

“A New and more compassionate Nigeria is indeed possible!” he concluded.

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