Obi Condemns Fuel Price Increase Amid Economic Hardship
Peter Obi, Labour Party’s 2023 presidential candidate, criticises President Tinubu and NNPCL for increasing fuel prices amid economic challenges. Obi described the move as “insensitive,” warning that it will exacerbate Nigeria’s already difficult economic situation.
On Saturday, October 12, 2024, Obi shared on his X handle that the policy lacked compassion and sound economic reasoning. He argued the fuel price hike would harm Nigerians, already burdened by rising costs and limited resources. Obi emphasised that the government’s decision further worsens citizens’ well-being during tough economic times.
Obi Questions NNPCL’s Role and Accountability
Obi further raised concerns about the confusion surrounding the operations and oversight of NNPCL. Obi questioned the effectiveness of NUPRC and NMDPRA in regulating NNPCL’s operations. He noted that NNPCL operates as a limited liability company. Despite restructuring, Obi argued the supervisory roles of these regulatory bodies remain unclear and ineffective.
He highlighted that both NNPCL and the regulatory agencies operate under the Federal Ministry of Petroleum Resources, led by the President. “Who exactly is regulating who in this structure?” Obi asked, emphasising the need for clarity and accountability in governance.
Obi Demands Immediate Reversal of Fuel Hike
According to Obi, the government must take responsibility for the economic hardship caused by the fuel price increase. He called for an urgent review and reversal of the policy to ease the burden on citizens. Obi stressed that alternative solutions should have been explored instead of implementing a “draconian measure” that worsens the plight of ordinary Nigerians.
Rising Fuel Prices Across States
Fuel prices in Nigeria have surged, with a litre selling at N998 in Lagos and N1,000 in Abuja as of October 9, 2024. The uneven pricing across the 36 states has added to public frustration, as many struggle to cope with the rising cost of living. Obi highlighted the importance of government policies that prioritise citizens’ welfare, especially during economic downturns.
Obi Criticises Timing of Tinubu’s Decision
Obi criticised the timing of the government’s actions, emphasising that implementing policies during the President’s vacation shows disregard for citizens. He argued that imposing such hardship while in comfort reflects poor leadership. Obi stressed that the government appears disconnected from the realities faced by ordinary Nigerians.
Call for Transparent Economic Management
Obi’s criticism fuels growing opposition to Tinubu’s economic policies, as many demand a more transparent and inclusive government approach. He stressed that economic governance must prioritise compassion and sound principles. Obi emphasised the need to avoid hasty decisions that harm the nation’s most vulnerable citizens.
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