NNPC: Peter Obi Demands Reversal of Sudden Fuel Price Hike, Calls Out Govt's Insensitivity

The presidential candidate of the Labour Party in the 2023 general election, Peter Obi has voiced strong criticism against the Nigerian National Petroleum Company Limited (NNPCL) for its abrupt increase in fuel prices.

Describing the hike as "unfortunate and insensitive," Obi expressed his concerns through a statement titled “Reversing the Sudden Fuel Price Increase” on his X.com account.

The price of petrol at NNPCL stations in Abuja surged to N1,030 from N897 per litre, marking a 14.8% or N133 rise, which is the second increase within a month.

Obi highlighted the severe economic repercussions of this decision, emphasizing that it exacerbates the already challenging living conditions for Nigerians. He pointed out that the responsibility to reverse this decision lies with the Minister of State for Petroleum Resources, Sen. Heineken Lokpobiri, and President Bola Tinubu.

Obi criticized the Federal Government's policy choices, stating, "This is neither how an economy’s resources should be managed nor how a nation should be governed."

The Nigeria Labour Congress (NLC) and other stakeholders have also demanded an immediate reversal of the price hike, citing the massive burden it places on households.

The NLC noted that the price increase has led to inflated costs of living, with transportation costs skyrocketing in the Federal Capital Territory. Furthermore, the Independent Petroleum Marketers Association of Nigeria threatened to halt operations nationwide due to the high cost of Premium Motor Spirit sold by NNPCL.