As Nigerians grapple with severe economic challenges, H.E. Peter Obi, the Labor Party candidate in the 2023 General Elections, has condemned the recent increase in fuel prices (PMS) by the Nigerian National Petroleum Company Limited (NNPCL).
In a press release, Obi expressed his deep concern over the sudden hike, describing it as “both unfortunate and insensitive,” especially given the broader economic struggles faced by citizens.
Obi stated, “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 without providing any explanation.” He emphasized the negative impact of this decision on the economic survival and well-being of the populace.
The former governor of Anambra questioned the rationale behind the price increase, stating, “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.”
Obi highlighted the confusion surrounding the roles and responsibilities of the NNPCL and its regulatory bodies, including the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
He further noted that both the NNPCL and these regulatory agencies are under the supervision of the Federal Ministry of Petroleum Resources, with the President of Nigeria serving as the substantive Minister. Obi questioned, “Who, in this arrangement, is regulating who?”
Obi emphasized that the responsibility for addressing the sudden fuel price increase lies with the Honorable Minister of Petroleum Resources and the President. He urged, “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 the Honorable Minister of Petroleum Resources/President of the Federal Republic of Nigeria.”
He expressed hope that the Minister would act in the best interest of the majority of Nigerians living in precarious conditions before returning from his working vacation. “To casually inflict such a draconian measure on the populace from the comfort of an annual vacation amounts to taking the people’s welfare lightly and for granted,” he added.
Obi concluded with a hopeful note, asserting, “A New and more compassionate Nigeria is indeed possible!”
