Former Anambra State Governor and Labour Party presidential candidate, Peter Obi, has expressed concern over the harsh economic situation in Nigeria, attributing the hardships largely to what he describes as the Nigerian Government’s “poor policy choices.”
His comments follow the Nigerian National Petroleum Company Limited’s (NNPCL) recent announcement of a fuel price (PMS) increase without offering a clear reason.
Obi voiced his concerns about the rising cost of living, saying that these price hikes are “unfortunate and insensitive,” especially because they have a huge negative effect on the economy and the well-being of people.
He criticised how the government handles the country’s resources, arguing that their actions lack both good economic sense and care for the people.
“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,” he wrote on X.
Obi explained that since the NNPCL became a limited company under the supervision of bodies like the Nigerian Upstream Regulatory Commission (NUPRC) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), there has been confusion about its responsibilities.
“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?” He questioned.
Given the current difficult situation for Nigerians, Obi stressed that it is the responsibility of the Minister of Petroleum Resources and the President to explain the reasons for the fuel price increase and offer alternative solutions. He urged Tinubu to focus on the needs of the people rather than his personal activities, especially while on vacation.
“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,” he said.