The 2023 presidential candidate of the Labour Party, Peter Obi has called on the federal government to reverse the sudden hike in fuel prices, which has caused untold hardship for Nigerians.
The recent increase by the Nigerian National Petroleum Company Limited (NNPCL) has sparked widespread criticism, with many Nigerians expressing their discontent on social media.
Mr. Obi in a statement via his X handle on Saturday, described the NNPCL’s decision to raise the price of fuel without providing any explanation as “unfortunate and insensitive”.
He emphasized that this move is not only a clear indication of the federal government’s wrong policy choices but also a reflection of the government’s insensitivity to the plight of Nigerians ¹.
He said: “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 President Tinubu.
