Peter Obi, the former presidential candidate of the Labour Party (LP), in the 2023 general elections, has described the increment of fuel pump price by the President Bola Tinubu-led government as “unfortunate and insensitive” considering the wide-ranging negative consequences for economic survival and well-being......See Full Story>>.....See Full Story>>
It was reported on Wednesday that the Nigerian National Petroleum Company Limited (NNPCL) had raised the pump price of fuel from N897 per litre to N1030 in Abuja; from N855 to N998 in Lagos; N1,070 in North-East; N1025 in other South-West states; N1045 in South-East; and N1075 in South-South.
The former Governor of Anambra State while reacting to the development on Saturday in a post on X said 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.
Mr. Peter Obi called on President Tinubu, who doubles as the Minister of Petroleum, to provide full explanation, offer alternative options, and most importantly, reverse the sudden price hike.
He explained that this is neither how economic resources should be managed nor how a nation should be governed.
“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 the Honorable Minister of Petroleum Resources/President of the Federal Republic of Nigeria.
“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.
“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.”