The price increase from N897 to N1,030 per litre has led to skyrocketing transportation costs in the Federal Capital Territory.
In a tweet on Saturday, October 12, Obi emphasized the far-reaching negative consequences for Nigeria’s economic survival and its citizens’ well-being. He argued that the Minister of State for Petroleum Resources, Senator Heineken Lokpobiri, and President Bola Tinubu are responsible for reversing this price hike.
How fuel price increment affects Nigerians
The price increase has exacerbated economic hardship for Nigerians, with the President of the Nigeria Labour Congress, Joe Ajaero, and the Independent Petroleum Marketers Association of Nigeria (IPMAN) also criticizing the hike. IPMAN revealed that NNPC sells petrol to independent marketers at N1,010/litre in Lagos despite purchasing it at N898/litre from the Dangote Petroleum Refinery.
Obi questioned the lack of explanation for the price hike and the unclear roles and responsibilities among NNPCL and regulatory agencies. He urged the government to act in the best interest of Nigerians and reverse the price hike before President Tinubu returned from his working vacation.
The statement reads in part: “This is both unfortunate and insensitive, considering the wide-ranging negative consequences for our economic survival and well-being.”
See the tweet here:
