Peter Obi, the Labour Party’s presidential candidate in the 2023 general election, has criticized the recent increase in the price of Premium Motor Spirit (PMS), labeling it as “unfortunate and insensitive.” He urged the Federal Government to reverse the hike in a post titled “Reversing the Sudden Fuel Price Increase” on his official X account.
Obi stated that Nigerians are struggling under severe economic conditions, which he attributed largely to the federal government’s policy missteps. He condemned the National Petroleum Company Limited (NNPCL) for raising fuel prices without explanation, emphasizing the detrimental effects on the economy.
“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. This is both unfortunate and insensitive,” Obi said.
He questioned the management of the country’s resources, asserting that the recent decision lacked sound economic rationale and compassion. Obi also highlighted the confusion surrounding the roles of the NNPCL and its regulatory agencies, which are under the supervision of the Federal Ministry of Petroleum Resources.
“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 stated, urging prompt action for the welfare of Nigerians.
Obi criticized the timing of the fuel price hike, suggesting it reflects a disregard for citizens’ struggles, particularly as the Minister is reportedly on 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,” he added.
The price increase follows the NNPCL’s recent adjustment of petrol prices, with a litre selling for ₦998 in Lagos, up from ₦855, and ₦1,030 in Abuja, up from ₦897. Some filling stations in Lagos are reportedly charging as much as ₦1,050.
