Peter Obi Faults Fresh Increase In Petrol Price

Presidential candidate of the Labour Party in the 2023 general election, Peter Obi, has described the latest increase in the price of Premium Motor Spirit (PMS) as “unfortunate and insensitive,” and urged the federal government to reverse it.

In a post on his official handle on X, he said Nigerians were groaning under the extremely difficult economic conditions which he said was largely caused by the federal government.

He alluded to wrong policy choices, adding that increasing prices of PMS by the national oil company, NNPCL was a wrong move.

“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.

“We are told that the NNPCL is now a limited liability company, regulated by agencies such as the NUPRC and NMDPRA, yet there seems to be growing confusion about the roles and responsibilities of the NNPCL and these regulating bodies,” he said.