Former Labour Party presidential candidate in the 2023 election, Peter Obi, has once again voiced his concern over the deteriorating economic conditions in Nigeria, calling for the immediate reversal of the latest fuel price hike by the Nigerian National Petroleum Company Limited (NNPCL). In a strongly worded message shared via his official X handle, Obi condemned the NNPCL’s decision to raise the pump price of Premium Motor Spirit (PMS) without offering any justification or transparency.
Obi described the fuel price increase as “unfortunate and insensitive,” pointing to the heavy toll it takes on the already struggling Nigerian populace. He emphasized that the Federal Government’s poor policy choices have exacerbated economic challenges, leaving Nigerians to shoulder the weight of what he termed avoidable hardship.
“This is neither how an economy’s resources should be managed nor how a nation should be governed,” Obi remarked, noting that the fuel hike lacked both sound economic reasoning and the necessary compassion for the suffering masses. He expressed particular concern over the confusion surrounding the regulatory framework of the oil and gas sector.
According to Obi, despite NNPCL’s status as a limited liability company and its supposed regulation by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), there remains a glaring lack of clarity about who holds ultimate responsibility for these actions. He questioned the accountability of the system, pointing out that the Ministry of Petroleum Resources, headed by the President himself, should be overseeing these entities.
“Who is regulating whom in this arrangement?” Obi asked, underscoring the blurred lines of authority within the sector.
With Nigerians enduring unprecedented levels of economic strain, Obi called on the Minister of Petroleum Resources—who also serves as the President—to take full responsibility for explaining this sudden fuel price hike and to offer alternative solutions to cushion its impact. He stressed that the government must act swiftly, urging for the reversal of this “draconian” measure before the President’s return from his working vacation.
“It is irresponsible to inflict such a harsh policy on citizens from the comfort of an annual vacation,” Obi stated, criticizing the leadership for appearing out of touch with the daily struggles of the people. He implored the administration to prioritize the welfare of Nigerians, many of whom are living in precarious conditions, and to act decisively in their best interest.
Obi concluded his message with a rallying cry for a more compassionate governance, declaring, “A New and more compassionate Nigeria is indeed possible!”
With his remarks, Peter Obi has once again positioned himself as a strong voice of opposition against the government’s policies, amplifying the call for accountability and empathetic leadership in the midst of Nigeria’s ongoing economic crisis.
PIONEER NEWS 