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Former presidential candidate and Labour Party leader, Peter Obi, has called on the federal government to reverse the recent petrol price hike, describing it as "unfortunate and insensitive." The price of petrol, which surged to ₦1,030 per litre in some regions, has sparked widespread concern and deepened the economic hardships faced by millions of Nigerians.
In a statement shared via his social media, Obi criticized the Nigerian National Petroleum Company Limited (NNPCL) for the increase and questioned the regulatory oversight of the corporation. "Who is regulating who?" Obi asked, highlighting the confusion surrounding the roles of NNPCL and the regulatory agencies responsible for overseeing fuel prices.
The Labour Party leader called on President Bola Tinubu, who also serves as the Minister of Petroleum, to provide a detailed explanation for the price hike and offer alternative policies to ease the economic burden on citizens. Obi warned that this increase, the second in less than two months, only worsens the already difficult living conditions for Nigerians.
He urged the government to act in the best interests of the people, advocating for more compassionate policies to alleviate the nation's economic challenges.