By Our correspondent
Labour Party (LP) presidential candidate, Peter Obi, has strongly condemned the recent fuel price increase, labeling it “draconian” and insensitive to Nigerians’ economic struggles.
In a statement on his Twitter handle, Obi criticized the Nigerian National Petroleum Company Limited (NNPCL) for raising fuel prices without explanation, exacerbating economic hardship for millions of Nigerians.
“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,” Obi said.
He described the move as “both unfortunate and insensitive,” considering the wide-ranging negative consequences for Nigeria’s 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,” Obi said.
He questioned the roles and responsibilities of regulatory bodies, including the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
“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,” he noted.
Obi pointed out that both the NNPCL and regulatory agencies are under the supervision of the Federal Ministry of Petroleum Resources.
“Who, in this arrangement, is regulating who?” Obi asked.
He called on President Ahmed Bola Tinubu to provide a full explanation, offer alternative options, and reverse the sudden price hike.
“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,” Obi stated.
Obi urged President Tinubu to act in the best interest of Nigerians, who are living under precarious conditions.
“We hope and pray that he acts in the best interest of the majority of Nigerians, who are living under unnecessarily precarious conditions, and that he does so before his return from his working vacation,” Obi said.
He stated that inflicting such hardship on Nigerians from the comfort of vacation amounts to taking their welfare lightly and for granted.
“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.”
The fuel price hike has sparked widespread outrage across Nigeria, with many citizens struggling to cope with rising living costs.
