Victor Ezeja
Presidential candidate of the Labour Party in the 2023 general election, Peter Obi, has decried the latest hike in price of Premium Motor Spirit (PMS), also known as petrol, and urged the Federal Government to reverse it.
He pointed out that the decision to further hike the price of petrol at a time the citizens are grappling with harsh economic realities caused by wrong policy choices without explanation or offering any alternative, reflects insensitivity on the party of the government considering the negative impact on the wellbeing and survival of the citizens.
Join our WhatsApp ChannelHis comment comes in the wake of fresh increase in the pump price of petrol by the Nigeria National Petroleum Company Limited (NNPCL).
The NNPCL had within the week adjusted the pump price of petrol in its retail outlets. The national oil company’s retail outlets in Lagos and Abuja are now selling at N998 and N1,030 per litre respectively, against N897. In other filling stations not owned by NNPCL, the price goes as high as N1,500.
In a statement title “Reversing the Sudden Fuel Price Increase” posted on his official X handle on Saturday, Obi criticised government’s approach in managing the situation, noting that such is not how an economy’s resources should be managed or how a nation should be governed.
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“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,” Obi stated.
He questioned the regulatory roles of various government agencies in the downstream oil and gas industry, adding that in the present circumstance, it is the responsibility of the president who is also the Minister of Petroleum Resources to provide explanation, offer alternative options, and most importantly, reverse the sudden price hike.
READ ALSO: PMS Market Deregulation Will Boost Supply – Edun
“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 added.
Victor Ezeja is a passionate journalist with seven years of experience writing on economy, politics and energy. He holds a Master's degree in Mass Communication.
