BREAKING: Peter Obi Criticizes Tinubu, Calls for Reversal of Sudden Fuel Price Increase, Labels It Insensitive and Unfortunate

Former Labour Party (LP) presidential candidate, Peter Obi, has criticized the recent hike in fuel prices, urging the Federal Government to reverse the decision. Obi expressed his concerns through a post on his X handle on Saturday morning.continue Reading>>>

According to Naija News, the Nigerian National Petroleum Company Limited (NNPCL) announced a 14.8% increase in petrol prices, raising the cost to ₦1,030 per litre from ₦897. This marks the second price hike within a month, following a previous increase from ₦615 to ₦897 in September.

In response, Peter Obi called the latest price rise unfortunate and insensitive. He urged President Bola Tinubu, who also serves as the Minister of Petroleum, to explain the reasons for the increase, explore alternative options, and reverse the decision.

Obi wrote, “As Nigerians endure severe economic hardship, largely due to poor policy decisions by the Federal Government, the NNPCL has once again raised fuel prices without any explanation.”

He added that the price hike was both unfortunate and lacked compassion, as it brings severe negative consequences for the economy and the welfare of Nigerians. Obi criticized the lack of sound economic reasoning and empathy in the decision.

He also questioned the roles of regulatory bodies like the NUPRC and NMDPRA, noting confusion about their responsibilities and the supervision of the NNPCL, which should be overseen by the Ministry of Petroleum Resources under the President. Continue Reading>>>

Obi emphasized that the responsibility to explain the situation, offer alternatives, and reverse the price hike rests with the President in his capacity as Minister of Petroleum. He called for action in the interest of suffering Nigerians, hoping for a decision before the President’s return from his working vacation.

Lastly, Obi condemned the decision to impose such a harsh measure while the President was away on vacation, viewing it as a disregard for the welfare of the people. He called for a more compassionate approach moving forward.