• Latest
  • Trending
  • All
Flooding: Peter Obi seeks urgent declaration of flood disaster emergency

Fuel price hike unfortunate, insensitive – Peter Obi

What is a Meerkat? – The New Trending Meme

What is a Meerkat? – The New Trending Meme

Ibas faults NBA for moving Conference from Rivers to Enugu, demands Refund of N300m Hosting Rights

Rivers LG Administrator Resigns

2027: Atiku, Amaechi, El-rufai form New Political Party, writes INEC

2027: Atiku, Amaechi, El-rufai form New Political Party, writes INEC

Court remands TikToker For Bathing On Street

Court remands TikToker For Bathing On Street

JUST IN: Presidency warns Nigerians, Leaders over Opposition to Tinubu’s Tax Reform Bills

Tinubu lands in Benue amidst Aftermath of Yelewata attack

CAC Increases Service Fees from  August 1

CAC Increases Service Fees from August 1

Benue: Military deploys Air Surveillance after Terror Invasion killed over 100 in Guma

Benue: Military deploys Air Surveillance after Terror Invasion killed over 100 in Guma

DEMOCRACY ON TRIAL: A LEGAL REFLECTION ON 25+ YEARS OF CIVILIAN RULE IN NIGERIA

DEMOCRACY ON TRIAL: A LEGAL REFLECTION ON 25+ YEARS OF CIVILIAN RULE IN NIGERIA

Air India Plane carrying 242 Passengers Crashes after Takeoff (Video)

Air India Plane carrying 242 Passengers Crashes after Takeoff (Video)

‘We have recovered reasonable amount’ – EFCC gives update on N1.3trn CBEX crypto fraud

CBEX Resumes Operations, asks Nigerian Investors To Deposit $200

How Fuel Prices rose from 6 kobo-N650/litre Since 1973 to 2024

Fuel Marketers Engage Suppliers To Crash Petrol Price To N700/Litre

Tinubu’s Petrol Subsidy Removal Generates $84b, 40 roads – Reports

Tinubu’s Petrol Subsidy Removal Generates $84b, 40 roads – Reports

  • About Us
  • Advertise with Us
  • Editorial Policy
Friday, June 27, 2025
  • Login
iDeemlawful
  • Home
  • News
  • Featured
  • Politics
  • Life Style
  • Advertise with Us
  • Opinion
  • Campus
No Result
View All Result
iDeemlawful
No Result
View All Result
No Result
View All Result
iDeemlawful
  • Home
  • News
  • Featured
  • Politics
  • Commentary
  • Editorial
  • Campus
Home Breaking News

Fuel price hike unfortunate, insensitive – Peter Obi

by Usama OLAGUNJU
March 6, 2025
A A
Flooding: Peter Obi seeks urgent declaration of flood disaster emergency
FacebookTwitterWhatsapp

The presidential candidate of the Labour Party in the 2023 general election, Mr Peter Obi described the recent hike in the price of petrol products as “unfortunate and insensitive”.

Obi made this known in a statement he titled “Reversing the Sudden Fuel Price Increase”, on his X.com account, on Saturday.

It was reported that transportation costs skyrocketed in the Federal Capital Territory following the hike in the price of petrol by some stations of the Nigerian National Petroleum Company Limited in Abuja on Wednesday.

RelatedPosts

Tinubu’s Petrol Subsidy Removal Generates $84b, 40 roads – Reports

Tinubu: Nigerians lived fake lives before subsidy removal.

Nigerians may end up buying petrol N5,000/litre under Tinubu –Benson Upah

Tinubu Considers Fuel Subsidy Reversal to Allow ‘Poor Breath’

The stations of the national oil company raised the retail price of petrol to N1,030 from N897 per litre across multiple NNPCL stations in the FCT.

The new price, the second increase in one month, represents a 14.8 per cent or N133 rise.According to Obi, the increase in fuel prices has far-reaching negative consequences for the current Nigerian economic survival and well-being of Nigerians.

He stated that reversing the sudden price hike relies on the hands of the Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri and President Bola Tinubu.

The statement reads, “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 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.

“Interestingly, both the NNPCL and the regulatory agencies are supposed to be under the supervision of the Federal Ministry of Petroleum Resources, with the President of the Federal Republic of Nigeria serving as the substantive Minister.

Who, in this arrangement, is regulating who? With the unprecedented but avoidable hardship that Nigerians are enduring, the responsibility for providing a full explanation, offering alternative options, and most importantly, reversing the sudden price hike falls squarely on the Honorable Minister of Petroleum Resources/President of the Federal Republic of Nigeria.

“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. A new and more compassionate Nigeria is indeed Possible.”

The new price, the second increase in one month, represents a 14.8 per cent or N133 rise.According to Obi, the increase in fuel prices has far-reaching negative consequences for the current Nigerian economic survival and well-being of Nigerians..

He stated that reversing the sudden price hike relies on the hands of the Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri and President Bola Tinubu.

Recall that following the hike, the President of the Nigeria Labour Congress, Joe Ajaero, condemned the fuel pump price increase by NNPC, noting that a registered private company should not dictate fuel prices for Nigerians.

The Independent Petroleum Marketers Association of Nigeria also threatened to stop operations nationwide following the high cost of Premium Motor Spirit, popularly known as petrol, sold to IPMAN members by the Nigerian National Petroleum Company Limited.

IPMAN revealed on Thursday that the cost of petrol from the Dangote Petroleum Refinery to NNPC was about N898/litre, but noted that NNPC was selling the same product to independent marketers at N1,010/litre in Lagos.

Tags: Fuel subsidyObi
Previous Post

Reps Passed Bill To Establish Bola Tinubu University

Next Post

How to Develop Mobile Apps without Coding

Usama OLAGUNJU

Usama OLAGUNJU

Related Posts

Court remands TikToker For Bathing On Street
Breaking News

Court remands TikToker For Bathing On Street

JUST IN: Presidency warns Nigerians, Leaders over Opposition to Tinubu’s Tax Reform Bills
Breaking News

Tinubu lands in Benue amidst Aftermath of Yelewata attack

Benue: Military deploys Air Surveillance after Terror Invasion killed over 100 in Guma
Breaking News

Benue: Military deploys Air Surveillance after Terror Invasion killed over 100 in Guma

DEMOCRACY ON TRIAL: A LEGAL REFLECTION ON 25+ YEARS OF CIVILIAN RULE IN NIGERIA
Breaking News

DEMOCRACY ON TRIAL: A LEGAL REFLECTION ON 25+ YEARS OF CIVILIAN RULE IN NIGERIA

Chief of Army Staff Oluyede relocates to Markurdi over Herdsmen Attacks
Breaking News

Chief of Army Staff Oluyede relocates to Markurdi over Herdsmen Attacks

‘How driver lost control’ – Survivor Narrates Accident that killed 22 Kano Athletes
Breaking News

‘How driver lost control’ – Survivor Narrates Accident that killed 22 Kano Athletes

Nigerian Government Announces Public Holidays for Sallah Celebrations
Breaking News

Nigerian Government Announces Public Holidays for Sallah Celebrations

The progress of Kano state is non – negotiable – Engr. Yusuf
Breaking News

Kano Declares 12-day Sallah Holiday for Schools

Kwara mobile court convicts 135 sanitation violators |
Breaking News

Kwara Law Students Appeal for Immediate Release of Law School Scholarship Funds

‘We have recovered reasonable amount’ – EFCC gives update on N1.3trn CBEX crypto fraud
Breaking News

‘We have recovered reasonable amount’ – EFCC gives update on N1.3trn CBEX crypto fraud

Load More

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

iDeemlawful

Copyright © 2019–2025 Deemlawful Media

  • About Us
  • Advertise with Us
  • Editorial Policy

Connect With Us

No Result
View All Result
  • Home
  • News
  • Featured
  • Politics
  • Life Style
  • Advertise with Us
  • Opinion
  • Campus

Copyright © 2019–2025 Deemlawful Media

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In